An affiliate of Endurance Real Estate Group LLC, in partnership with an affiliate of Guardian Life Insurance Company of America, announced the acquisition and beginning of construction of Chambersburg Logistics Park, a 1 million-plus-square-foot cross-dock warehouse/distribution facility.
The $115 million building is expected to be ready for delivery in the fourth quarter of 2023.
Cushman & Wakefield served as the adviser to Endurance, which is based in Wayne. PNC Bank National Association provided construction financing.
“We are thrilled to close on this land acquisition and kick off speculative development with Guardian on our first project together,” Benjamin Cohen, president of Endurance, said in a release. “The Cushman team did a great job helping us navigate the ever-evolving capital markets, enabling us to capitalize our largest transaction to date for this shovel-ready site.”
The 93-acre site off Exit 10 along Interstate 81 will include state-of-the-art features, such as tilt-wall panel construction; 40-foot clear height; 60-foot deep speed bays; 56-foot wide and 48-foot deep typical column spacing; high-bay LED lighting with motion sensors; a 60 mil fully adhered roof membrane; an early suppression/fast response sprinkler system; 166 overhead dock door positions; four 14-by-16-foot drive-in doors; 213 trailer stalls (expandable to 303) and 375 car parking spaces (expandable to 561); and 4,000 amp, three-phase main electric service.
Chambersburg Logistics Center will benefit from proximity to major East Coast markets, regional seaports and multiple air, rail and highway systems.
Jared Newman, senior vice president/partner of Endurance, added: “This project is a continuation of our long-term strategy to acquire and develop sites that offer superior access, proximity to abundant labor, and the ability to provide best-in-class design features to attract a variety of high-quality users.”
Paula Wolf is a freelance writer