Lee & Associates of Eastern Pennsylvania | Leasing 422,400 SF Carlisle Industrial Building
Lee & Associates of Eastern Pennsylvania secures 422,400 sf industrial listing
Camp Hill, PA, September 16, 2015– Brokers from Lee & Associates, the largest broker-owned commercial real estate firm in the country, has been awarded the lease assignment of a 422,400-square-foot industrial building now under construction at 192 Kost Road in Carlisle. John Van Buskirk, SIOR and Jack Shepley, SIOR will lead Lee’s effort on behalf of the owner of the property, Industrial Property Trust Inc.
192 Kost Road will be a 36' clear, Class A industrial building located on 38.73 acres with 66 dock doors, up to 162 trailer spots and 310 auto spots. The property is designed to accommodate multi-tenant leases, with the ability to provide suites as small as 100,000 square feet. With the property’s location at the junction of three primary highways servicing the Harrisburg-West industrial submarket and its close proximity to the Harrisburg FedEx and UPS regional sorting facilities, it presents a unique opportunity for companies to occupy a modern, energy efficient facility located at one of the most desired locations in Central Pennsylvania. MRP Industrial is acting as Development Manager for the property.
Construction is expected to be completed in early 2016. For construction updates and more information on this project, visit 192KostRoad.com or contact Lee & Associates of Eastern Pennsylvania.
About Lee & Associates
Lee & Associates of Eastern Pennsylvania commenced operations May 2015, making it the 54th Lee & Associates office.
Celebrating more than 36 years of leadership excellence in commercial real estate, Lee & Associates is the largest broker-owned firm in the country with locations across the nation including California, Colorado, Arizona, Florida, Georgia, Idaho, Illinois, Indiana, Kansas, Maryland, Michigan, Missouri, Nevada, New Jersey, New York, Ohio, Pennsylvania, South Carolina, Texas, and Wisconsin. With more than 800 brokers nationwide, Lee & Associates provides a wide range of specialized commercial real estate services on a local, regional and national level. For the latest news from Lee & Associates, visit lee-associates.com or follow us on Facebook, LinkedIn and Twitter.
About MRP Realty
An affiliate of MRP Realty, MRP Industrial is a privately held real estate company specializing in the acquisition, development, financing and leasing of industrial properties. Founded in 2013 and based in Baltimore, the company focuses on strategic investment in core industrial markets across the Northeastern U.S. MRP Industrial provides institutional capital partners and corporate clients a full array of development opportunities including, build-to-suit, fee development services, speculative investment and value-add acquisitions. The company maintains a pipeline of over 8.0 million square feet of industrial development projects with a total capitalization of nearly $500 Million. More information about the company is available at www.mrpindustrial.com.
About Industrial Property Trust Inc. (IPT)
IPT is focused on acquiring and operating high-quality distribution warehouses that are leased to corporate customers. IPT's core strategy is to build a national platform of high-quality industrial properties by targeting markets that have high barriers to entry, proximity to a large demographic base, and/or access to major distribution hubs. As of June 30, 2015, we owned and managed, either directly or through our 51.0% ownership interest in the BTC Partnership, a real estate portfolio that included properties with an aggregate total purchase price of approximately $719.1 million, comprised of 68 industrial buildings totaling approximately 9.3 million square feet located in 14 markets throughout the U.S., with 144 customers, and was 83.4% occupied (85.1% leased) with a weighted-average remaining lease term (based on square feet) of 4.9 years.
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