By Brian Pedersen, February 2, 2018 – Architectural rendering shows what The Cubes at Lehigh Valley-Airport Road in East Allen Township will look like upon completion. A 40-acre property on Airport Road in East Allen Township is the site for a St. Louis-based developer’s plan to build a 450,000-square-foot-industrial building, a project that could cost $45 million or more. CRG, headquartered in St. Louis, will build The Cubes at Lehigh Valley-Airport Road, which the company…
“We’re Enjoying Pretty Significant Popularity… We’re in Vogue”
By Simon Prichard, Sr. Partner – Gerald Eve in LinkbyLee’s London Calling While the Brexit shock and political instability have left the United Kingdom’s economy subdued compared to other major countries, the commercial property market has been setting new records. The demands on the nation’s top real estate advisors have increased dramatically. The result has been a boon for Gerald Eve, Lee & Associates’ European strategic ally, which was recently honored as ‘National Advisor of the…
Passion Project – Making Great Pinot Noir Without Going Sideways
To certain wine lovers, the thought of planting vineyards and producing wine along California’s Central Coast is hardly an extravagant idea, and it may account for the fact that wineries in these parts seldom change hands. So, what’s it take to get in on the fun? To keep costs down, most people start making wine in leased space or in space shared with another winery and using grapes purchased locally. Others plant vineyards on leased…
Roadwork impacting your region
Gearing up for the holiday season? Wondering when those packages are going to arrive? Planning to get all of your shipments out on time? We are here to help you with an overview of the roadwork affecting your region! Lehigh Valley Great news! The work on I-78 that has been slowing down your trucks between Berks and Northampton Counties will be placed on hold for the holiday season and resume in Spring 2018. When the…
Monthly Download | Market Update | October 2017
The PHL region experienced a vacancy decrease to 5.71% at the end of the Q3, which was a new record low for the market. Due largely to some notable built-to-suit deliveries, the market recorded over 4.2 million square feet in positive absorption during the quarter. Total absorption YTD has eclipsed 13.7 million square feet, which is an average quarterly pace of almost 4.6 million square feet. At this pace, the Philadelphia Industrial market could eclipse…
Monthly Download | Demand Update | September 2017
Demand for new, class A space is a major driver for the region’s construction activity. Our Industrial Demand report tracks industrial requirements across our entire market. As of the end of the third quarter, smaller requirements, 500,000 SF or less, outnumber larger requirements by almost two to one. While larger requirements are predominantly focused along the I-81 and I-78 transportation corridor that spans from the eastern edge of the Lehigh Valley to the southern border…
Monthly Download | Construction Update | August 2017
As we near the end of the 3rd Quarter, our industrial market is experiencing 21 million square feet in construction activity, with nearly 3.2 million square feet in new construction starts this quarter alone. The Lehigh Valley and Central Pennsylvania submarkets are leading this activity with 8.8 and 7.3 million square feet of development respectively. The I-81 and Southern New Jersey submarkets are also contributing 2.5 million square feet each of current construction. As of…
Mystery company leases huge Route 33 warehouse
Two down, one to go. That’s the situation for Duke Realty Corp., the Indianapolis industrial developer that recently completed and leased its second warehouse in Palmer Township and has now started construction on its third planned building near Route 33. But it remains unclear who is leasing Duke Realty’s second warehouse, a 628,475-square-foot structure at 1611 Van Buren Road within the developer’s 33 Logistics Park complex. In a news release Tuesday, Duke Realty described the…
Ed Skonecki Joins Lee & Associates of Eastern Pennsylvania as a Senior Associate
Camp Hill, PA, August 1, 2017 – Lee & Associates of Eastern Pennsylvania LLC is pleased to announce the recent addition of Ed Skonecki as a Senior Associate. Located in the firm’s Central Pennsylvania office, Ed will work directly with the principals of the firm on key accounts, while focusing on owner and occupier representation, site selection and acquisition and disposition of industrial and commercial real estate. Prior to joining Lee & Associates of Eastern…