Bombay established its Northeast distribution center in thefacility, and its lease is valued in excess of $17 million.Liberty's price for the building is undisclosed.
Simultaneous with the sale, C. Craig Guers, VP of Opus East,announced that groundbreaking will begin immediately onconstruction of a 429,200-sf warehouse facility on an adjoining 59acres. It will be the company's "first initiative" for this land,he says, and he expects it to reach completion in second quarter2005.
Opus East is the Plymouth Meeting-based Mid-Atlantic regionaloffice of Minnetonka, MN-based Opus Group. The 860 Nestle Wayfacility is its second major building in the planned,2.4-million-sf, five-building Allentown Crossings developmenthere.
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