Woodmont Industrial Partners Starts Construction of 400,000 SF Property at Capital Logistics Center
FAIRFIELD, NJ – (July 28, 2014) – Woodmont Industrial Partners today announced that they have completed the demolition and commenced construction on 200 Capital Lane, a new 400,000-square-foot warehouse building. 200 Capital Lane is part of the Capital Logistics Center – a six-building,1.55-million-square-foot industrial complex situated on over 100 acres in Middletown, Pennsylvania. A joint venture of WIP and AEW Capital Management, L.P. (AEW) acquired the property in June of 2013. AEW acquired the property on behalf of AEW Partners VI, the sixth in the firm’s series of opportunistic funds.
Situated in Central Pennsylvania in the heart of the I-81 Distribution Corridor, Capital Logistics Center boasts a prime location that fronts the Pennsylvania Turnpike and is less than a mile from Harrisburg International Airport. The property is strategically located near FedEx and UPS facilities, and is also in close proximity of Routes I-283, I-83 and 322.
“We are excited to begin construction at this site and see great potential in what this property will become,” said Eric Witmondt, Chief Executive Officer of Woodmont Industrial Partners. “We look forward to unveiling the new and improved Capital Logistics Center once this project is complete.”
The company demolished two 1950-vintage buildings in the park and in their place is constructing two new LEED-certified, Class A warehouse facilities totaling approximately 530,000 square feet. 200 Capital Lane is scheduled to be completed in December 2014, with 300 Capital Lane following shortly after. Upon completion, 200 Capital Lane will be the largest building in the park and will be equipped with T-5 lighting, an ESFR system, 87 dock doors plus two drive-in doors, and 36’ clear ceilings throughout.
The CBRE team of Michael Hess, Patrick Lafferty and Bart Anderson is handling the leasing assignment.
About Woodmont Industrial Partners
Woodmont Industrial Partners is an affiliate of Fairfield, New Jersey based Woodmont Properties, a leading real estate development and management firm established in 1963. Woodmont Industrial Partners was formed in 2011 and acquires warehouse properties in select, high-barrier-to-entry and globally oriented seaports of New York/New Jersey, Baltimore and South Florida, and the inland ports of the Lehigh Valley and Harrisburg regions in Pennsylvania. Woodmont is continuing to build a portfolio of high-quality assets via the acquisition of individual properties as well as development opportunities. www.woodmontindustrialpartners.com
Founded in 1981, AEW Capital Management, L.P. (AEW) provides real estate investment management services to investors worldwide. One of the world’s leading real estate investment advisors, AEW and its affiliates manage over $39 billion of capital invested in $53.5 billion of property and securities in North America, Europe and Asia (as of March 31, 2014). Grounded in research and experienced in the complexities of the real estate and capital markets, AEW actively manages portfolios in both the public and private property markets and across the risk/return spectrum. AEW and its affiliates have offices in Boston, Los Angeles, London, Paris, Hong Kong and Singapore, as well as additional offices in eight European cities. For more information please visit www.aew.com.