JV Signs Full-Building Tenant at Pennsylvania Facility
- Mar 05, 2021
Trammell Crow Co. and Diamond Realty Investments have signed a full-building lease with a major e-commerce company at Valley View Trade Center, a 1,027,660-square-foot industrial property in Jessup, Pa. Last December, the joint venture completed the shell buildings at Innovation Business Center, a 403,600-square-foot industrial project in Newnan, Ga.
Valley View came online last August. The partnership broke ground on the development in 2018, after securing construction financing from Texas Capital Bank. The distribution facility features a 40-foot clear height, 190-foot deep truck courts, ESFR sprinklers and 159 dock positions, which can be expanded to 209. The property also has 277 parking spots for cars and 311 for trailers.
Located at 45 Valley View Circle, the facility is 6 miles from Interstate 84 and 10 miles from Scranton, Pa. The property is also adjacent to a 64-acre site, which was recently acquired by Transwestern. The company plans to develop a 750,000-square-foot speculative industrial project. Completion is scheduled for 2022.
CBRE’s William Wolf and Max Wolf represented Trammell Crow and Diamond in the lease transaction. Recently, the brokerage assisted the seller of a 1.2 million-square-foot, 25-building light industrial portfolio across Southern New Jersey and Bucks County, Pa.