SPEC-ING THE NORTH
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|There's spec happenin' in 'dem hills. That's right. Two industrial giants are gearing up new warehouse projects north of metro Philly.|
|We'll start with this man up above, First Industrial's Kent Mason (on right with CB Richard Ellis' Todd Barton in Atlanta), who told the audience at our Atlanta Industrial Summit show two weeks ago that his firm is buying land in Allentown for a 600k SF industrial projectthat will start by 2012. Details were few, but Kent tells us the project will encompass multiple buildings.|
|We got more information from Exeter Property Group's Ralph Kittrellabout his project. Exeter is moving forward on a 400k SF specwarehouse in Lehigh Valley. Ralph says the market is strategicallylocated to best serve (logistically speaking) the rest of the Northeast, being close to the Pennsylvania Turnpike and all. Ralph did not givetiming on when the project will be completed.|