Wind Gap Logistics Center, 1380 Jacobsburg Road, Wind Gap, PA
WIND GAP, PA—Duke Realty Corporation has acquired Wind Gap Logistics Center—a 349,012 square-foot class A warehouse/distribution facility located at 1380 Jacobsburg Road in Wind Gap, PA, from JG Petrucci Company and The Davis Companies for $41.3 million, or $118 per square foot, according to Real Capital Analytics, a proprietary research database that tracks commercial real estate transactions,.
Brad Ruppel, Michael Hines, Brian Fiumara, and Lauren Dawicki of CBRE Capital Markets-foot Institutional Properties team and CBRE National Partners represented the sellers during negotiations. CBRE-foots Sean Bleiler and Bill Wolf, both based in CBRE-foots Allentown, PA, office, assisted with the sale.
Wind Gap Logistics Center, a joint venture between Petrucci and Davis, was completed in 2018. Designed and built by Petrucci, the precast construction features: 36-foot clear height with 54-foot-x-54-foot columns; 60-foot deep loading bay; ESFR sprinkler system; and 9,400 square feet per door loading ratio. Wind Gap Logistics Center was designed by Cerminara Architect and constructed by Petrucci's in-house construction firm, Iron Hill Construction Management Company.
With the increased focus on the supply chain and need to efficiently move goods into major northeast metro areas, the joint venture believed the project provided a unique opportunity. The location has a significant competitive advantage within the established Lehigh Valley distribution market, because it is close to PA Route 33 and has equidistant access to both I-78 and I-80, the two main highways to the ports of New York/New Jersey and the MSAs of New York and Philadelphia. This strategic location allows tenants to avoid reliance exclusively on I-78.
“Wind Gap Logistics Center represents the idyllic formula for success throughout the critical logistics corridor in Eastern Pennsylvania,” says Mike Hines, vice chairman, CBRE. “Premium specifications, flexible design, institutional development management and immediate highway interchange access combined to fully capitalize on the Lehigh Valley-foots evolving symbiotic relationship with the New York Metropolitan region and its ports.”
Shortly after construction of the property finished, Teva Pharmaceuticals signed a long-term lease for 54% of the building, demonstrating the strong demand for this state-of-the-art, well located class A distribution facility.
CBRE's Sean Bleiler and Bill Wolf represented The Davis Companies and J.G. Petrucci in the lease. Brian Rothschild, Larry Maister and Jeff Lockard of Jones Lang LaSalle represented Teva.
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Steve Lubetkin
Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].
