Dermody Properties broke ground this morning on what will become a 750,000-square-foot industrial development in Bethel Township's Berks Park 78, becoming a neighbor to the recently built Dollar General and PetSmart facilities in the same industrial park.
The national industrial development firm of Dermody, from Reno, Nev., partnered with Granite Real Estate Investment Trust of Canada to develop an industrial warehouse and distribution center, which sits on Martha Drive, in the 323-acre industrial business park off exit 13 of Interstate 78.
“We are making investments and developing facilities in highly desirable, strategically
advantaged markets across the country,” Dermody’s president Douglas Kiersey Jr. said. “The central and eastern Pennsylvania market is one we’re committed to, and we believe Berks Park 78 is one of the premier industrial parks in that market.”
Dermody Properties is the developer and operating partner, while Granite is the majority equity partner on the project, which has local economic revitalization tax assistance, providing potential tenants with reduced real estate taxes over a 10-year period.
The site will be designed for distribution or e-commerce operations, featuring 316 car parking spaces and 322 trailer parking spaces.
“We are excited to begin construction on this development,” said Gene Preston, partner, Dermody Properties east region office. “This facility will provide superior solutions for distribution and warehousing operations, and the location is ideal for companies that need to reach the northeastern U.S. consumer and business markets quickly and efficiently.”
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