CBRE announced the sale of Wind Gap Logistics Center—a 349,012 sq. ft. Class A warehouse/distribution facility located at 1380 Jacobsburg Road in Wind Gap, Northampton County, Pennsylvania.
Brad Ruppel, Michael Hines, Brian Fiumara, and Lauren Dawicki of CBRE Capital Markets’ Institutional Properties team and CBRE National Partners represented the sellers, J.G. Petrucci & Co. and The Davis Companies, during negotiations. CBRE’s Sean Bleiler and Bill Wolf, both based in CBRE’s Allentown, Pennsylvania office, assisted with the sale.
Wind Gap Logistics Center, a joint venture between J.G. Petrucci Co., Inc. and The Davis Companies, was completed in 2018. Designed and built by J.G. Petrucci, the precast construction features: 36’ clear height with 54’ X 54’ columns; 60’ deep loading bay; ESFR sprinkler system; and 9,400 sq. ft. per door loading ratio.
With the increased focus on the supply chain and need to efficiently move goods into major northeast metro areas, the joint venture believed the project provided a unique opportunity. The site’s location has a significant competitive advantage within the established Lehigh Valley distribution market, due to its immediate adjacency to PA Route 33 and equidistant access to both I-78 and I-80, the two main highways to the ports of New York/New Jersey and MSAs of New York and Philadelphia. This strategic location allows tenants to avoid reliance exclusively on I-78.
“Wind Gap Logistics Center represents the idyllic formula for success throughout the critical logistics corridor in Eastern Pennsylvania,” said Mike Hines, Vice Chairman, CBRE. “Premium specifications, flexible design, institutional development management and immediate highway interchange access combined to fully capitalize on the Lehigh Valley’s evolving symbiotic relationship with the New York Metropolitan region and its ports.”
Shortly after construction completion, Teva Pharmaceuticals entered into a long-term lease for 54 percent of the building, demonstrating the strong demand for this state-of-the-art, well located Class A distribution facility.
Teva Pharmaceutical Industries Ltd. is a global leader in generic medicines, with innovative treatments in select areas, including CNS, pain, and respiratory illnesses. CBRE’s Sean Bleiler and Bill Wolf represented The Davis Companies and J.G. Petrucci in the transaction. Brian
Rothschild, Larry Maister and Jeff Lockard of Jones Lang LaSalle represented Teva Pharmaceutical Industries Ltd.
Wind Gap Logistics Center was designed by Cerminara Architect and constructed by J.G. Petrucci’s in-house construction firm—Iron Hill Construction Management Company.
Brad Ruppel, Michael Hines, Brian Fiumara, and Lauren Dawicki of CBRE Capital Markets’ Institutional Properties team and CBRE National Partners represented the sellers, J.G. Petrucci & Co. and The Davis Companies, during negotiations. CBRE’s Sean Bleiler and Bill Wolf, both based in CBRE’s Allentown, Pennsylvania office, assisted with the sale.
Wind Gap Logistics Center, a joint venture between J.G. Petrucci Co., Inc. and The Davis Companies, was completed in 2018. Designed and built by J.G. Petrucci, the precast construction features: 36’ clear height with 54’ X 54’ columns; 60’ deep loading bay; ESFR sprinkler system; and 9,400 sq. ft. per door loading ratio.
With the increased focus on the supply chain and need to efficiently move goods into major northeast metro areas, the joint venture believed the project provided a unique opportunity. The site’s location has a significant competitive advantage within the established Lehigh Valley distribution market, due to its immediate adjacency to PA Route 33 and equidistant access to both I-78 and I-80, the two main highways to the ports of New York/New Jersey and MSAs of New York and Philadelphia. This strategic location allows tenants to avoid reliance exclusively on I-78.
“Wind Gap Logistics Center represents the idyllic formula for success throughout the critical logistics corridor in Eastern Pennsylvania,” said Mike Hines, Vice Chairman, CBRE. “Premium specifications, flexible design, institutional development management and immediate highway interchange access combined to fully capitalize on the Lehigh Valley’s evolving symbiotic relationship with the New York Metropolitan region and its ports.”
Shortly after construction completion, Teva Pharmaceuticals entered into a long-term lease for 54 percent of the building, demonstrating the strong demand for this state-of-the-art, well located Class A distribution facility.
Teva Pharmaceutical Industries Ltd. is a global leader in generic medicines, with innovative treatments in select areas, including CNS, pain, and respiratory illnesses. CBRE’s Sean Bleiler and Bill Wolf represented The Davis Companies and J.G. Petrucci in the transaction. Brian
Rothschild, Larry Maister and Jeff Lockard of Jones Lang LaSalle represented Teva Pharmaceutical Industries Ltd.
Wind Gap Logistics Center was designed by Cerminara Architect and constructed by J.G. Petrucci’s in-house construction firm—Iron Hill Construction Management Company.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas is the world’s largest commercial real estate services and investment firm (based on 2019 revenue). The company has more than 100,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 530 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas is the world’s largest commercial real estate services and investment firm (based on 2019 revenue). The company has more than 100,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 530 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
