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Duke Realty leases third warehouse at 33 Logistics Park.

Byline: Brian Pedersen

The Pennsylvania office of Duke Realty Corp. said it leased its third bulk warehouse in 33 Logistics Park in Palmer Township to an undisclosed tenant, bringing the 2.7 million-square-foot industrial development to 100 percent occupancy. The site is on the east side of the park off Route 33 at the Tatamy interchange at Main Street.

Duke Realty began development of 33 Logistics Park in 2014 with the purchase of a 63-acre site and construction of a 1,106,442-square-foot building, now occupied by Amazon.

The real estate firm then bought 134 acres and began development of its second building, a 628,475-square-foot building that XPO Logistics leased last July. The third building, 33 Logistics Park 1620, is a 1,015,740-square-foot facility leased by a company that Duke Realty declined to disclose.

"They are in the process of building the space and anticipate being open in October," said Jeffrey D. Palmquist, senior vice president of the Northeast U.S. for Duke Realty in Conshohocken.

With 33 Logistics Park complete, Duke Realty is looking at the Lehigh Valley for available sites, Palmquist said.

Brokers involved in the lease of 33 Logistics Park 1620 include tenant representative Jonathan Gelman with Gelcor Realty, while Duke Realty's Matthew Bremner and Cait English, along with listing brokers Bill Wolf and Sean Bleiler of CBRE, represented Duke Realty.

Duke Realty said it also has a speculative industrial building under construction in Bethel Township in northern Berks County. Central Logistics Park 53, an 832,000-square-foot facility, is expected to be ready this month.View the full article from Lehigh Valley Business at http://www.lvb.com/article/20180709/LVB01/180709890/duke-realty-leases-third-warehouse-at-33-logistics-park. Copyright 2018 BridgeTower Media. All Rights Reserved.

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Publication:Lehigh Valley Business
Date:Jul 9, 2018
Words:293
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