YRC Logistics Takes 121,000 SF

PITTSBURGH-YRC Logistics recently signed a “long-term” lease for a new 119,000-square-foot building at Turnpike Distribution Center, according to Grubb & Ellis, which has the leasing assignment for the building. Located 40 miles northwest of Downtown Pittsburgh in New Galilee, the development sits within 500 miles of 50% of the US population.

The building owner is Turnpike Distribution LP, a joint venture of Pittsburgh-based developer Castlebrook Development, Cincinnati-based general contractor Al Neyer Inc. and Pittsburgh-based The Erect Fund, an investment fund that invests on behalf of local pension funds. The lease commences next month.

The specific term and rate on the lease agreement were not released by the parties involved and not otherwise immediately available. The listing broker, Louis Oliva of Grubb & Ellis Co.’s Global Logistics Group, declined comment on the lease details. Long-term leases are typically at least seven years in duration. The advertised lease rate for the building was $4.95 per square foot, NNN.