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New, 320,000-square-foot warehouse brings $45.5 million
Paula Wolf//April 4, 2022
National real estate development and investment firm CRG announced that it has sold The Cubes at Emig Road, a just-built 311,920-square-foot distribution warehouse on 29 acres in Manchester Township.
A release from CRG did not disclose the price or the buyer, but BizNewsPA reported that AIREF Emig DC LLC, based in Denver, paid $45.5 million for the 434 Emig Road property.
DCL Logistics, a third-party logistics company headquartered in Fremont, Calif., is leasing approximately 125,000 square feet of the building, which was constructed on spec in the highly sought-after Interstate 78/81 corridor. JLL is marketing the rest of the space.
The cross-dock warehouse includes 36-foot clear height, high-efficiency LED lighting, 29 dock doors, 149 car parking spaces and 27 trailer stalls.
“The sale of The Cubes at Emig Road reaffirms the strength of The Cubes brand and our broader Northeast industrial development strategy amid unprecedented demand,” Frank Petkunas, senior vice president, Northeast Region, and partner for CRG, said in the release. “… We continue to explore development opportunities in high-growth markets throughout the region that offer proximity to labor, infrastructure and major population centers.”
CRG President Shawn Clark added: “The Cubes at Emig is an excellent modern warehouse and well located on the I-81 industrial corridor to serve the needs of retailers, consumer products companies and third-party logistics firms in the Eastern United States. York, Pa., is a special market with quick access to Baltimore and Philadelphia’s strong intermodal network providing access to the nation’s top (metropolitan statistical areas).”
An earlier release noted that The Cubes at Emig Road is CRG’s seventh industrial park of “The Cubes” brand.
