–Construction begins on third building at Rockefeller Group Logistics Park
MORRISTOWN, N.J. (June 24, 2021) — Rockefeller Group, the U.S. real estate developer, owner and operator, announced today that it has broken ground on a 453,600 square foot distribution center located on 36 acres in Hanover Township, Pa. This will be the third building the company has developed at Rockefeller Group Logistics Park. Rockefeller Group recently sold two newly completed and fully-leased buildings totaling 1.3 million square feet. The new distribution center is expected to be completed by Spring 2022.
”Following the lease-up and sale of more than 1.3 million square feet in Lehigh Valley earlier this year, we believe the market is prime for a mid-size distribution center that can accommodate e-commerce users looking to locate in the region,” said Mark Shearer, Senior Managing Director for Rockefeller Group’s NJ/PA Region. “Our confidence in this market continues to grow as demand for quality logistics facilities is strong.”
Rockefeller Group Logistics Park is located just two miles from Lehigh Valley International Airport with air cargo and passenger service, three miles to Route 22 and toll-free access to Port Newark / Elizabeth via Interstate 78. The site is within a day’s drive to one-third of all U.S. consumers and half of all Canadian consumers. Also, one of the largest logistics hubs in the U.S. is adjacent to the property. Rockefeller Group invested more than $60M in recently completed road improvements to the site to accommodate potential users.
The JLL team of Jeff Lockard, Paul Torosian, Ryan Barros and Kyle Lockard serve as the exclusive marketing and leasing agents for the development.
According to JLL, buildings in this size range are being sought-after by prospective tenants. JLL notes that demand for space above 400,000 square feet is significantly outpacing supply and that since 2017, speculative construction over 400,000 square feet in Lehigh Valley has been stabilized on an average of two months following building delivery. JLL predicts that all speculative construction projects in this size range in the region will likely see high rates of pre-leasing or similar stabilization timing.
The 453,600 square foot building, located at 800 Willowbrook Road, will include a 36-foot clear height, 268 car parking spaces, 96 dock doors with half equipped with 40,000 lb. mechanical levelers, seals, and bumpers, and 100 trailer parking spaces.