X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

(Read more on the industrial market.)

PITTSTOWN TWP., PA-Kimberly-Clark Global Sales Inc. has signed a lease for 744,080 sf in CenterPoint Commerce & Trade Park East. This takes up more than half of the 1.1-million-sf spec industrial development Wilkes-Barre-based Mericle Commercial Real Estate Services began readying for construction this May, as GlobeSt.com previously reported.

Lee Fein and Michael Zerbe, SVPs in the Philadelphia office of Colliers Lanard & Axilbund, represented Kimberly-Clark in the negotiations, and Mericle spoke for itself. The terms and aggregate value of the deal are undisclosed. This September, Jim Cummings, Mericle’s VP of marketing, told GlobeSt.com that the market rate for new class A spec industrial space in this area ranges from $4 per sf to $5 per sf.

The Kimberly-Clark facility is located at 325 CenterPoint Blvd. Fein says it encompasses two Mericle spec buildings, which the developer is combining for the new tenant. Dallas-based Kimberly-Clark is a global supplier of healthcare and hygiene products that employs more than 55,000 worldwide and reported sales of $16.7 billion in 2006.

CenterPoint Commerce & Trade Park East is a 377-acre industrial center at which Lowe’s Cos. Inc, is currently building a 1.4-million-sf distribution center. Other tenants in the park include FedEx Ground in an 88,000-sf build-to-suit, and a 300,000-sf distribution building that began as a spec facility and is now fully leased to Men’s Wearhouse.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. NET LEASE Spring 2021Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.