A rendering of River Pointe Commerce Park, a planned 5.5 million-square-foot industrial park in Upper Mount Bethel, Pennsylvania by River Pointe Logistics — Courtesy: CBRE
By Joshua Burd
A developer has announced plans for what it says will be the largest industrial park on the East Coast, where CBRE is marketing 5.5 million square feet just over the New Jersey state line.
The owner, River Pointe Logistics, has tapped CBRE as its leasing agent at the 725-acre property in Upper Mount Bethel, Pennsylvania. Known as River Pointe Commerce Park, the property is directly west of the Delaware River and will include up to 13 buildings, as demand for logistics space in the region continues to surge in the wake of the coronavirus outbreak.
Jake Terkanian and Sean Bleiler are leading the leasing team.
“We are thrilled to bring the largest planned industrial park along the Eastern Seaboard to market,” said Terkanian, a senior vice president in CBRE’s Radnor, Pennsylvania office. “We have already seen strong interest from a number of tenants including food/beverage and manufacturing, among others, who are attracted by its unique attributes, including the potential to have 100-foot clear heights.”
In a news release, CBRE noted that the developer is able to change the layout of the park to suit a mix of industrial uses and is open to providing everything from build-to-suit lease or sale options to the sale of entitled pad site.
The first building offers expansion up to 420,000 square feet and is located at 303 Demi Road, the news release said. Delivery for the initial offering is slated for late 2021.
“We look forward to realizing the full potential of this market-leading, premier industrial campus, which is ideally located 1.5 miles from Exit 4 of Interstate 80, just under 65 miles from the (Port of New York and New Jersey) and 80 miles from the Port of Philadelphia,” said Bleiler, a senior vice president.
After the completion of the first building, River Pointe Logistics expects to begin additional deliveries starting in 2022.
“The project, which comes with a 10-year (Local Economic Revitalization Tax Assistance) tax abatement, is poised to attract a strong labor force and prominent tenants as each building is flexible for multiple uses, including manufacturing,” said Lou Pektor, a development representative with the firm. “RPL is excited to attract new companies to an area that has a strong employment base of hard working people in the Northampton County area.”