New York-based Clarion Partners, a real estate investment manager, together with Baltimore-based MRP Industrial, an affiliate of MRP Realty, began construction this week on a new development in Jonestown, PA. The project sits on the site of the former I-81/I-78 Logistics Park in Union Township; last October, Clarion and MRP purchased a 129-acre parcel with plans to develop two buildings within the three building, 1.9M-square-foot Gateway Logistics Park. This week they broke ground on Building B, a 500,000 square foot structure at 545 Old Forge Road.
The development includes pad-in-place development parcels for both a 1,002,000-square-foot distribution center at 575 Old Forge Road and Building B. MRP Realty said it is talking to prospective lease and build-to-suit prospects, and that the buildings would be ideal for northeast region distribution and e-fulfillment retail operations.
The third building in the development is being planned by Pennsylvania real estate company Vision Group Ventures, according to corporate spokesperson. That building will be approximately 400,000 square feet.
For more news and information visit Blumberg Partners.
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