New Long-Term Lease Will Support Planned Infrastructure Improvements along the Northeast Corridor
THORNDALE, PENNSYLVANIA, October 19, 2022 – Colliers is pleased to announce that it has facilitated a long term lease on behalf of Amtrak at 251 S Bailey Road in Thorndale, Pennsylvania. The transaction was arranged by Larry Bergen and George Wrigley of Colliers.
This new facility represents a lease commitment valued in excess of $6 million. The space will accommodate many critical functions for America’s famed passenger rail service provider. These include materials storage, fabrication and assembly, operations and security offices and space to accommodate meeting and training sessions.
Amtrak has been investing in the next generation of its high-speed Acela cars along the Northeast Corridor, with an infrastructure improvement plan that also includes improvements to stations, track capacity and ride quality between New York and Washington, D.C.
“Colliers was delighted to assist Amtrak in this growth opportunity, one that will support customer experience as it invests in the future of rail throughout the Northeast Corridor.” said Larry Bergen, a Senior Managing Director and Principal of Colliers.
251 S Bailey Road is a 125,240 square foot facility owned by J. Loew & Associates. Eli Kahn, the Landlord’s managing partner, worked seamlessly with Amtrak to accommodate its long-term needs at this location. Eli Kahn and his team are highly respected CRE professionals with a significant regional portfolio.
Amtrak’s new 66,856 square foot lease represents approximately half of the industrial facility, which is located within steps of the Thorndale Transit Line. Amtrak anticipates taking occupancy in December of this year.
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