ALLENTOWN, PA-HBI Priority Freight leased 32,445 sf of warehouse space in the 43,245-sf industrial building at 966 Postal Rd. It joins locally based KFW Automation to take occupancy in the building, which was built in 1988, to 100%.
The aggregate value of the HBI lease exceeds $700,000, according to Paul Wierzel, senior leasing and marketing manager for the Philadelphia region of Exton-based First Industrial Realty Trust. He represented the owner, while Dale Hoxie of Dulles, VA-based Barrett Industries represented HBI.
The Herndon, VA-based ground transportation and logistics service firm provides pick-up and delivery service in Virginia, Maryland, Washington, DC and portions of Delaware, West Virginia and North Carolina in addition to southeastern and central Pennsylvania. The lease represents an expansion of HBI's operations into eastern Pennsylvania, according to Wierzel.
According to a mid-year report from the West Conshohocken office of Trammell Crow Co., the average asking rental rate for industrial space in the Lehigh Valley is $3.81 per sf. Overall vacancy, according to the report, was 12.5% at the end of this year's second quarter.
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