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International firm acquires 832,000-square-foot Myerstown building
Ioannis Pashakis//November 24, 2020
International firm acquires 832,000-square-foot Myerstown building
Ioannis Pashakis//November 24, 2020
An 832,000-square-foot building in Myerstown, Lebanon County was acquired by International real asset investment management firm, CBRE Global Investors as part of a larger logistics portfolio acquisition.
The company announced on Monday that it acquired the new portfolio for an undisclosed amount of money. The portfolio features both the Myerstown property as well as a 589,680-square-foot logistics facility in Braselton, Georgia.
The Myerstown property sits on a 72.85- acre site and is partially occupied by Saddle Creek Logistics Services. The remaining square footage is currently available for lease, the company wrote in a press release.
The building includes an ESFR fire suppression system, 36’ clear height, cross-dock loading, a 190’ truck court and 54’ by 50’ and 54’ by 60’ column spacing.
The two assets are part of a broader strategy by CBRE Global Investors to invest in assets throughout the top logistics markets in the US, the firm wrote.
“Each of these assets are located in very populated areas and in growing industrial submarket,” said Gary Jaye, senior managing director and head of commercial acquisitions for CBRE Global Investors. “We believe that demand for state-of-the-art logistics space in these areas will continue to increase as more people rely on e-commerce.”
