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Dermody, Granite Building 750,000-SF Industrial

BETHEL TOWNSHIP, PA—Dermody Properties and partner Granite Real Estate Investment Trust are building the warehouse and distribution facility at a cost of about $39.8 million, Dermody's Preston tells GlobeSt.com.

By Ian Ritter | Updated on July 16, 2014

BETHEL TOWNSHIP, PA—Dermody Properties, and its Canada-based partner Granite Real Estate Investment Trust are building a 750,000-square-foot spec industrial/warehouse facility here. The project, which just broke ground, will cost about $39.8 million to build, Eugene Preston, a partner at Dermody’s East Region office, tells GlobeSt.com.

Preston would not reveal the dollar split between the Granite and Reno, NV-based Dermody except to say that Granite is making a “significant investment” in the development. The two have partnered on several projects, the latest being an industrial asset just completed in Louisville.

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