Two Lease Signings Total More Than 126,200 SF at Opus Park

In a new lease, Invacare Corp. has taken a total of 83,200 sf at the location. The company, an Elyria, OH-based maker and distributor of home care and long-term medical care products, will use the space for warehouse/distribution purposes. The company's web-based sales have risen to nearly one-third of its total business.

In the second signing, WEL Cos., which took 83,200 sf of W/D space just a year ago, has added 43,000 sf to boost its total occupancy to more than 126,000 sf. WEL is a privately owned transportation company specializing in shipping refrigerated foodstuffs and dry commodities for such customers as Hershey and Kraft.

Peter Corcoran, director of development in the Plymouth Meeting, PA office of the Minnesota-based Opus East, negotiated both transactions. Terms of the signings were not disclosed.

"Both of these markets (Central New Jersey and the Lehigh Valley of Pennsylvania) continue to be a hotbed for major distributors of consumer products," says Craig Guers, vice president of Opus East.

The two latest signings have also prompted Opus East to finish off construction of the third and final building within the park, the 418,300-sf Turnpike Crossings III. The building, which is currently available, is expected to be ready for occupancy by the end of the year, according to Corcoran.

The initial phase of the project was a 526,400-sf warehouse/distribution facility completed in 2001 and now fully leased to Fleming Foods. Turnpike Crossing II was completed just last year.

Opus East itself established its regional office in Plymouth Meeting, PA in 1998 to develop office and industrial facilities in the tri-state Pennsylvania, New Jersey and Delaware market.