FREDERICKSBURG, PA—Ace Hardware is leasing nearly 1.1 million square feet at the Lebanon Valley Distribution Center, 139 Fredericksburg Road, Fredericksburg, Lebanon County, PA.
The lease transaction, negotiated by CBRE, involves a new 1,080,421 square-foot cross-dock, 36' clear distribution facility. The existing 874,126 square-foot facility is to be expanded by 225,875 square feet and delivered to Ace Hardware for occupancy by year end 2017.
CBRE's Joseph McDermott, Jake Terkanian, Vincent Ranalli and David Lind represented Ace Hardware during the negotiations. The property is owned by USAA Real Estate Co. and is being developed by Trammell Crow Company.
McDermott indicated that the CBRE team worked with the Ace Hardware executives to locate a suitable class-A consolidation facility to serve Ace Hardware stores located throughout the Northeast and Mid-Atlantic US. The Lebanon Valley Distribution Center property was chosen over several other options because of its site and building design, expansion capability, and access to I-78 and I-81.
CBRE provided Transaction Management, Labor Analytics and assistance in securing LERTA tax benefits. The CBRE Project Management team has been hired to oversee the construction of the building expansion.
FREDERICKSBURG, PA—
The lease transaction, negotiated by CBRE, involves a new 1,080,421 square-foot cross-dock, 36' clear distribution facility. The existing 874,126 square-foot facility is to be expanded by 225,875 square feet and delivered to
CBRE's Joseph McDermott, Jake Terkanian, Vincent Ranalli and David Lind represented
McDermott indicated that the CBRE team worked with the
CBRE provided Transaction Management, Labor Analytics and assistance in securing LERTA tax benefits. The CBRE Project Management team has been hired to oversee the construction of the building expansion.
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Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].
