BRISTOL, PA-Two 10-year lease agreements take the 281,600-sf Keystone Industrial Park II building at 100 Crossing Dr. to 100% occupancy. Plymouth Meeting-based Opus East completed the warehouse distribution facility in third-quarter 2004. The tenants are David's Bridal and Iron Mountain Information Systems.
The aggregate value of the agreements is undisclosed. The published asking rental rate for the property is $4.65 per sf. Barry Greenberg and Andrew S. McGhee of the local office of Colliers Lanard & Axilbund represented Opus East.
Conshohocken-based David's Bridal, which operates more than 250 one-stop wedding apparel retail locations nationwide, leases 192,000 sf as its bridal supply and clothing distribution facility for Southeastern Pennsylvania. Neil Shupak of the Wayne office of GVA Smith Mack represented the tenant.
Iron Mountain, a major international provider of record storage and information management, leases the remaining 89,600 sf in the building. Peter M. Greenhalgh, a director with the Philadelphia office of Cushman & Wakefield of Pennsylvania, negotiated for the tenant.
The building is on a 26.5-acre site that offers easy access to I 95 and the Pennsylvania Turnpike. Craig Guers, SVP and general manager of Opus East, says the two leases "confirm the demand for new industrial space in Southeastern Pennsylvania and particularly large warehousing and distribution property in the suburban Philadelphia area." Among the other firms in Keystone Park are Estee Lauder, Circuit City, Boise Cascade Office Products and Airborne Express.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to asset-and-logo-licensing@alm.com. For more inforrmation visit Asset & Logo Licensing.