(To read more on the industrial market, click here.)

BRISTOL TWP., PA-Estee Lauder has signed a 20-year, build-to-suit lease agreement for a 242,433-sf regional distribution facility at 200 Crossings Dr. in Keystone Industrial Park II. This is the cosmetic company’s second facility in the park, and it will complete the four-building complex developed by Opus East.

Craig Guers, SVP and general manager of the Plymouth Meeting-based affiliate of Minneapolis-based Opus Group, says, “total development costs for the facility are estimated at more than $18 million.” It is designed by his firm’s in-house staff specifically to meet the tenant’s specialized distribution needs and features 32-ft clear ceiling height, 40- by 50-ft column spacing and approximately 14,000 sf of office space. Guers says Estee Lauder will take occupancy in September 2007.

Barry Greenberg and Andrew S. McGhee of Philadelphia-based Colliers Lanard & Axilbund negotiated the deal on Opus East’s behalf, and Estee Lauder’s in-house real estate department spoke for the client. Estee Lauder also occupies 302,409 sf at 300 Crossings Dr., which was completed in March 2001. With completion of the new facility, it becomes the largest tenant in the park.

Circuit City, Iron Mountain, David’s Bridal, Lennox and Acculogix are also located in the complex. It is five minutes from Exit 40 of I 95 and less than 10 minutes from Exit 358 of the Pennsylvania Turnpike.

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