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Colliers Logistics Team Concludes Two New Leases Totaling 455K SF in Eastern PA

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EASTERN PENNSYLVANIA, August 29, 2022 – The Colliers Logistics & Transportation team for Eastern Pennsylvania of Mark Chubb, Michael Zerbe, Summer Coulter  is happy to announce two recently completed transactions:

First 33 Commerce Center
First 33 Commerce Center at 3895 Eastgate Boulevard  (Photo Credit: Colliers)
First 33 Commerce Center at 3895 Eastgate Boulevard  (Photo Credit: Colliers)

The team has successfully leased 341,400 square feet of distribution and fulfillment space at 3895 Eastgate Boulevard in the First 33 Commerce Center in Easton, PA to Los Angeles-based GOAT Group on behalf of First Industrial Real Estate.

GOAT (an acronym for “Greatest of All Time”) is a global online marketplace of sneaker, apparel and accessories for both primary and resale markets. The e-commerce company, founded in 2015 has been on a meteohttp:ric rise, processing more than $2 billion in sales last year. The firm counts 30 million members who visit its website to score hard-to-find and luxury products via its powerful and disruptive global technology platform.

“We are happy GOAT has selected the Lehigh Valley and First 33 Commerce Center as a strategic location to serve its quickly growing global business.” shared Michael Zerbe of the leasing team.

1400 Distribution Drive
1401 Distribution Drive  (Photo Credit: Prologis)
1401 Distrbution Drive (Photo Credit: Prologis)

The team has also facilitated a 114,142 square foot industrial lease at 1400 Distribution Drive in Carlisle, PA on behalf of global logistics real estate developer Prologis.

“At the midway point of 2022, we continue to see an incredible year for the Eastern PA marketplace with regionwide overall asking rates increasing 31.2% year over year. Demand remains robust. While vacancy is at 1.7% the new development pipeline will provide much needed speculative inventory that can continue to serve the demand attracted to this strategic region.” shared Mark Chubb.

Learn more about market dynamics in the region with the Q2 2022 Eastern Pennsylvania Industrial Big Box Research Report, which was released this week.


For further questions or expert commentary contact the team:

Mark Chubb, Senior Managing Director 
+1 610 684 1862 |
Mark.Chubb@colliers.com

Michael Zerbe, Senior Managing Director 
+1 610 684 1853|
Michael.Zerbe@colliers.com

Summer Coulter, Executive Vice President 
+1 610 684 1861 |
Summer.Coulter@colliers.com

 

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About Colliers International
Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. With operations in 67 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to real estate occupiers, owners and investors. For more than 25 years, our experienced leadership with significant insider ownership has delivered compound annual investment returns of almost 20% for shareholders. With annualized revenues of $3.0 billion ($3.3 billion including affiliates) and $40 billion of assets under management, we maximize the potential of property and accelerate the success of our clients and our people. Learn more about how we accelerate success at corporate.colliers.com, Twitter @Colliers or LinkedIn.

 

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Mark Chubb

Senior Managing Director | Conshohocken

Conshohocken

Mark is co-leader of Colliers Logistics & Transportation Solutions Group based out the Philadelphia Regional Market. The team focuses on providing advisory services to both occupiers and owners of bulk warehouses, fulfillment and distribution facilities. Locally, they provide extensive coverage in Eastern Pennsylvania, Delaware, Northern Maryland and Southern New Jersey.

Beyond his regional market, he advises corporate occupier clients on real estate strategy and procurement of sites or facilities throughout North America. He has represented many prominent organizations on both the tenant/buyer and landlord/seller side of the transaction, with projects totaling over 25 million square feet of space in the past 5 years.

Mark serves on the national steering committee of Colliers International's Logistics & Transportation Solutions Group. The group is a national group of industry leaders that focus exclusively on providing real estate services to the users of logistics facilities.

Mark focusses on providing creative, market based solutions to his clients needs with an emphasis on reducing occupancy costs and limiting risk.

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Michael Zerbe

Senior Managing Director | Conshohocken

Conshohocken

Michael Zerbe is a Senior Managing Director & Principal within Colliers and is a member of Colliers Logistics and Transportation Services Group.

He specializes in assisting consumer products companies and third party logistics companies with distribution centers across the country.  He also focuses on large distribution centers along the I-78, I-81 and I-80 corridors, representing clients in the acquisition, disposition and development of industrial real estate.

Michael has extensive experience in many facets of the real estate process including site selection analysis and ground-up development including entitlement and incentive procurement, property valuation, and transactional negotiations.

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Summer Coulter

Executive Vice President

Conshohocken

Summer Coulter joined Colliers in 2010 after 4 years with CB Richard Ellis. Summer specializes in landlord and tenant representation, as well as acquisitions and dispositions of industrial ground, formerly in the Inland Empire industrial market, now in the Eastern Pennsylvania industrial marketplace.

In addition to a long list of institutional clients represented on leasing and building sales, Summer focuses largely on sourcing and selling land for future industrial development. Over the course of her career, Summer has sold over 2,400 acres of on and off-market development opportunities resulting in over 36MM square feet of industrial buildings. Summer specializes in institutional quality developments, and has sold property to clients such as Prologis, Duke Realty, Clarion Partners, Trammell Crow, Watson Land Company, Seefried, Sares Regis Group, NFI, Goodman, Panattoni, and Cabot Properties.

Ms. Coulter’s extensive experience includes a substantial geographic area, spanning both coasts. Summer has successfully completed various types of transactions ranging from multiple owner assemblages, property re-zones, properties with environmental challenges, sale-leaseback transactions, and manufacturing re-development opportunities.


Ms. Coulter’s extensive experience includes a substantial geographic area, spanning both coasts. Summer has successfully completed various types of transactions ranging from multiple owner assemblages, property re-zones, properties with environmental challenges, sale-leaseback transactions, and manufacturing re-development opportunities.

View expert