Cushman & Wakefield announced today that it represents Arcadia Properties, LLC ("Arcadia Properties") as the exclusive agent for the Northeast Logistics Center located in Tobyhanna Township, Monroe County, PA.
Arcadia Properties has been awarded a $1.5 million grant from the Redevelopment Assistance Capital Program ("RACP") for infrastructure improvements at the Northeast Logistics Center. The grant will be used to fund site work on Lot 110, which can accommodate up to a 600,000-square-foot warehouse building, allowing Arcadia Properties to deliver a pad-ready site for building construction. The site work is scheduled to commence in early spring 2017, which, along with offsite roadwork to be performed by PennDOT in early 2017, will allow for delivery of the building as early as third-quarter 2017.
Rich Thulin, Managing Member of Arcadia Properties stated, "Arcadia Properties recognizes that time to market is critical. Having a pad-ready site is a tremendous advantage for a user interested in locating in Northeast PA who needs to be up and operating in the shortest period of time."
Jeffrey Williams, Cushman & Wakefield Managing Director affirmed, "With this funding, we will now be able to have the project under construction to meet the growing and immediate demand requirements for users looking to occupy in Northeast PA."
Northeast Logistics Center is a ±275-acre master planned industrial park designed to support two buildings - 1.5 million square feet and 600,000 square feet. Northeast Logistics Center has excellent visibility and access via Exit 284 off of Interstate 80 in Tobyhanna, PA, in the established core industrial submarket of Northeastern Pennsylvania and the coveted PA I-81/I-78 Distribution Corridor. Northeast Logistics Center is also located in a Keystone Opportunity Zone ("KOZ"), offering businesses located in the Northeast Logistics Center exemption from paying Real Property Tax, PA Corporate Net Income Tax, State Sale & Use Tax and PA Capital Stock/Franchise Tax.
A Cushman & Wakefield team led by Jeffrey Williams, Daniel Walsh, and Gerry Blinebury represent Arcadia Properties in the marketing of Northeast Logistics Center for sale/lease. More information on the Northeast Logistics Center can be found at www.nelogisticscenter.com.
About Arcadia
Arcadia Properties, LLC is a privately owned real estate development and management company specializing in commercial projects, large tract land development, turn-key health care, general office, warehouse and distribution facilities and hotels throughout Eastern Pennsylvania. Arcadia also offers facility and construction management services and health care initiatives.
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. Our 43,000 employees in more than 60 countries help investors and occupiers optimize the value of their real estate by combining our global perspective and deep local knowledge with an impressive platform of real estate solutions. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $5 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
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