LogistiCenter at 33 Breaks Ground

Reno, NV-based commercial real estate developer Dermody Properties and PCCP, the financial partner and a San Francisco real estate finance and investment management firm, broke ground on LogistiCenter at 33, an industrial facility at 4200 E. Braden Blvd. in Forks Township, PA. Jones Lang LaSalle, which has an office in the Lehigh Valley, is the leasing team for the property. HFF served as the broker that represented J.G. Petrucci and Co. in the sale of the property to Dermody and PCCP, according to Gene Preston, partner for the east region of Dermody Properties.

Preston said the new Charles Chrin Interchange along Route 33 in neighboring Palmer Township prompted the deal. "That is the overriding reason ... the new interchange that opened up the Route 33 corridor," Preston said Monday. The interchange, which opened in July, provides easier access to Route 33 and adjoining interstates from business centers such as the one in Forks Township.

"PCCP sees this as a compelling opportunity to develop a Class A industrial facility with Dermody Properties, a best-in-class developer," added John Randall, Managing Director with PCCP. "Additionally, the local industrial market incorporates all of the key fundamentals that promise to attract large user interest. Our goal is to pre-lease the property prior to completion of construction."

Expected to be completed by summer 2016, the facility will feature 36 feet of clear height, 226 car parking spaces, and 85 trailer parking spaces. LogistiCenter at 33 is ideally suited for manufacturing, warehouse, and distribution companies that need to reach the northeastern U.S. population quickly and efficiently. R. S. Mowery & Sons, Inc. is the general contractor for the project, and the firm of Randall Paulson is serving as the project architect.

For more news and information visit Blumberg Partners.

Dermody Bringing New Logistics Center to Vancouver

Dermody Properties, a Nevada-based national industrial real estate development and operating company, recently broke ground on a new industrial facility in Vancouver, Washington that is expected to be completed in July 2015, and Vancouver's first new industrial development in more than 10 years. The 98,400 square foot facility, known as LogistiCenter 205, will be marketed by Tony Reser, Tom Talbot and Scott Murphy of Kidder Mathews, hoping to draw tenants from manufacturing and the high-tech sector, said Phil Wood, the Dermot Properties' Northwest regional partner.

"Vacancies in both the Vancouver submarket and the overall Portland market are at or near historic lows," said Douglas Kiersey, Jr., president, Dermody Properties. "LogistiCenter 205 will provide much needed modern distribution space to serve our national target customers."

LogistiCenter 205 will be one of the few sizable industrial facilities available in the Clark County submarket. The vacancy rate in the Clark County submarket was 3.7 percent at the end of 2014, the lowest rate experienced in recent history. Designed by Mackenzie and constructed by Perlo Construction of Portland, the facility will feature 30' clear height, a 130' truck court and Early Suppression, Fast Response sprinkler systems. LogistiCenter 205 will be the only Class A industrial facility available in the Vancouver Clark County submarket.

For more news and information visit Blumberg Capital Partners.