(Conshohocken, PA – May 1, 2017) The Northeast Region office of Duke Realty Corporation (Duke Realty), a leading nationwide REIT (Real Estate Investment Trust) specializing in the ownership, management and development of quality industrial facilities, including more than 4.3 million square feet in Pennsylvania, announces that it has purchased 72.87 acres of land in Bethel Township in Berks County, Pennsylvania, for future development. The land known as Central Logistics Park, which fronts I-78, is located 10 miles east of the split between I-81 and I-78 at the western edge of the Lehigh Valley submarket, and can support up to an 832,000-square-foot warehouse.
“We are pleased with this land purchase because it provides us with an excellent position right on I-78 in this up-and-coming distribution corridor to further leverage Duke Realty’s strong development platform,” said Jeff Palmquist, Senior Vice President of Duke Realty’s Northeast Region. “This site gives us the opportunity to offer companies looking for high-quality, first-generation warehouse space a viable alternative to the supply-constrained Lehigh Valley submarket. Only 40 miles from Carlisle and Allentown, companies will still reap the transportation and logistics benefits of being close to the populous northeast markets and New York metropolitan area.”
When Duke Realty develops a bulk warehouse on its newest site, the building will be Duke Realty’s fifth building in the Lehigh Valley area. Duke Realty also owns two buildings in West Hills Business Center on the west side of the valley, two buildings in 33 Logistics Park with adjacent land for future development near Allentown. These four facilities, along with other bulk warehouse buildings it owns in the Northeastern United States, including Pennsylvania, New Jersey, Maryland and Northern Virginia, total more than 10 million square feet.
Parties interested in build-to-suit development on Duke Realty’s Bethel Township parcel are invited to contact Matthew Bremner in Duke Realty’s Pennsylvania office at 484.533.6500.
About Duke Realty
Duke Realty’s Pennsylvania office is located at 161 Washington Street, Suite 1020, Conshohocken, PA. The phone number is 484.533.6500.
Duke Realty Corporation owns and operates approximately 142 million rentable square feet of bulk distribution and medical office real estate in 21 major U.S. metropolitan areas. Duke Realty is publicly traded on the NYSE under the symbol DRE and is listed on the S&P MidCap 400 Index. The company maintains a Baa1 rating from Moody’s Investor Service and a BBB+ rating from Standard & Poor’s Financial Services. More information about Duke Realty Corporation is available at www.dukerealty.com. Duke Realty also can be followed on Twitter, LinkedIn, Facebook and YouTube.