The High Ridge facility is Atlanta-based Robert Pattillo Properties' first foray into Pennsylvania. The building was constructed on a 50-acre parcel and Pattillo has options on another 100 acres in the Harrisburg/Hazleton, PA area, which, like the Lehigh Valley, is a growth area for distribution facilities. Pattillo, which specializes in developing distribution and warehouse buildings on spec, can build an 800,000-sf facility adjacent to the one leased by Sears.
Joseph B. McDermott and Eric Larkin of the area office of CB Richard Ellis, which is the exclusive leasing agent for High Ridge, represented Pattillo in the negotiations. Stephen A. Cooper of Cushman & Wakefield represented the tenant. Terms are undisclosed. Brokers familiar with the Central Pennsylvania industrial market tell GlobeSt.com the average asking rate ranges between $4.21 per sf and $5.68 per sf.
Lowe's Home Improvement has a distribution facility in High Ridge, and a 500,000-sf freezer/locker facility is currently under construction for Wegman Food Markets. McDermott says the location provides "a large available labor force and outstanding access to the Northeast's interstate highway system. It also includes access to various amenities, such as lodging and restaurants," he adds.
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