August 19, 2015 [Lebanon County, PA] – Colliers International’s Harrisburg team recently concluded the sale of a 43-acre site to a joint venture between Dermody Properties and PCCP, LLC.
LogistiCenter℠ 78-81, as the property will be branded, is ideally located in central Pennsylvania at the intersection of I-78 and I-81. Construction is commencing immediately with anticipated completion in spring 2016.
The property will be marketed to a single user and was delivered development-ready by the seller, Pennsylvania-based land developer, Vision Group Ventures.
LogistiCenter℠ 78-81 will consist of a front-load distribution building and a separate lot providing excess parking capacity. The state-of-the-art distribution facility will include 36’ clear heights; an ESFR sprinkler system; 81 dock doors; two drive-in doors, clerestory glass to allow natural light; 60’ loading bays; T-5 lighting; parking for 220 cars; and one extra trailer parking space per dock door.
The site is located at the junction of two of the primary distribution corridors servicing the northeastern United States, I-81 and I-78. I-81 serves as the outer beltway of the Northeast and has grown in popularity with users as it provides access to a wide range of outbound distribution locations.
Dermody Properties was represented by William Aiello and George Lulos of Colliers International. CBRE represented the seller, Vision Group Ventures.
About Dermody Properties
Dermody Properties is a privately held, industrial real estate development company. Founded and headquartered in Reno, Nev., the company has a national development reach, served by its regional offices in Chicago, Northern New Jersey, Phoenix, and Seattle. Over its 50-year history, the company has developed and leased more than 45 million square feet of high quality facilities to many Fortune 500 companies and other well-respected firms. To learn more about Dermody Properties visit dermody.com.
About PCCP, LLC
PCCP, LLC is a premier real estate finance and investment management firm focused on commercial real estate debt and equity investments. PCCP has approximately $5.5 billion in assets under management on behalf of institutional investors. With offices in New York, San Francisco and Los Angeles, PCCP has a proven track record for providing real estate owners and investors with a broad range of funding options to meet capital requirements. PCCP originates and services each of its investments, ensuring that clients benefit from added value and outstanding investment returns. Since its inception in 1998, PCCP has successfully raised, invested and managed approximately $10.5 billion of institutional capital through a series of investment vehicles including private equity funds, separate accounts and joint ventures. PCCP continues to seek investment opportunities with proven operators seeking fast and reliable capital. Learn more about PCCP at pccpllc.com.