James P. Vesey, who is based in Cushman & Wakefield's Philadelphia office and is senior director of C&W's capital markets group, exclusively represented the seller, Chicago-based Bradley Associates, and also procured the buyer. First Industrial Realty Trust, also based in Chicago, constructed the building, which has a 32-foot clear ceiling height, cross-docking facilities and trailer storage.
Demand for large, efficient warehouse distribution facilities in Central Pennsylvania is increasing, according to 2005 forecasts, presented at the beginning of the year by two Philadelphia-area real estate firms. Michael Hess, sales associate in the Harrisburg office of CB Richard Ellis, tells GlobeSt.com, "both sales and leasing activity are improving here. There's pent-up demand and companies are gaining confidence in the economy." He says the industrial vacancy rate in the area now stands at 9.6%.
Ames True Temper is a manufacturer of non-powered lawn and garden tools, including long-handle tools, hose reels, cutting tools, snow tools and striking tools, which it sells throughout Canada and the US under various brand names to such retail giants as Lowe's, Home Depot and Wal-Mart among others. The company is owned by Camp Hill-based Chatt Holdings Inc. Ames inventories in the Carlisle facility and distributes its products to locations throughout the US.
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