Hamburg Logistics Center Slated for Completion in Third Quarter 2021
December 01, 2020
Hamburg, Penn. – Transwestern Development Company (TDC®) and its partner, QuadReal Property Group, announce they have broken ground on Hamburg Logistics Center, a 518,140-square-foot speculative industrial project at 3501 Mountain Road in Hamburg, Pennsylvania. Located off Interstate 78 near Highway 61, the project is expected to deliver in third quarter 2021.
“The I-78/I-81 Corridor has consistently proven to be one of the top-performing industrial markets nationally,” said Greg Boler, Partner in TDC’s National Logistics Group. “In addition to proximity to several ports and affordable labor, users can reach 30% of the U.S. and 50% of Canada within a one-day drive. TDC and our partners are excited to deliver a state-of-the-art industrial product to meet growing demand in the western shore of Lehigh Valley, where we have seen the majority of the market’s absorption and rent growth take place.”
The project, called Hamburg Logistics Center, will feature 40-foot clear height and wide column spacing. With 100 dock doors and four drive-in doors, the property is designed to accommodate the needs of sophisticated e-commerce and logistics users that require larger building volume capacity to store, pack and ship products quickly and efficiently.
The Lehigh Valley industrial market exceeds 300 million square feet and has posted annual absorption ranging from 11 million to 17 million square feet during the past five years. For the first three quarters of this year, overall absorption has already eclipsed the upper tier of the previous range. This demand is driven by significant growth of e-commerce sales, increased storage capacity for safety reserves, and a shift to domestic manufacturing.
“At present, Transwestern has 40 industrial projects totaling 20 million square feet under construction or in pre-development planning stages nationwide, including more than 5 million square feet in the Northeast, led by Brian Banaszynski. Hamburg Logistics Center is an exciting part of this robust pipeline,” said John Thomas, Managing Partner for TDC National Logistics Group.
Jeff Lockard, Ryan Barros and Paul Torosian of JLL are providing leasing services for Hamburg Logistics Center.
About Transwestern Development Company
Transwestern Development Company (TDC®) creates real estate landmarks for itself, its partners and valued customers throughout the United States. Part of the Transwestern companies, the diversified business develops logistics, multifamily, office, mixed-use and healthcare properties, with a pipeline of projects in process or completed since 2012 exceeding $5.6 billion.
The privately held Transwestern companies have been delivering a higher level of personalized service and innovative real estate solutions since 1978. An integrated approach formed from fresh ideas drives value for clients across commercial real estate services, development, investment management and opportunistic programs for high-net-worth investors. The firm operates through 34 U.S. offices and global alliances with BNP Paribas Real Estate and Devencore. Learn more at transwestern.com and @Transwestern.
About QuadReal
Headquartered in Vancouver, Canada, QuadReal Property Group is a global real estate investment, operating and development company. QuadReal manages a $44.2 billion real estate and mortgage portfolio including 75 million square feet of industrial buildings and developments across North America, Europe and Asia Pacific. The company seeks to deliver strong investment returns while creating sustainable environments that bring value to the people and communities it serves.
For further information please visit www.quadreal.com
Media Contact:
Stefanie Lewis
713.272.1266
stefanie.lewis@transwestern.com
twmediarelations@transwestern.com
