A Maryland-based developer and Boston-based investment firm will collaborate to bring Park 309, two new industrial buildings to the market.
MRP Industrial of Baltimore, Md., said it acquired a nearly 23-acre site on West Pumping Station Road off Route 309 in Richland Township, with its joint venture partner, Cabot Properties of Boston.
Blue Rock Construction of Upper Macungie Township is the general contractor that would build the two industrial buildings, totaling 260,200 square feet, which was an assemblage of three lots, said Reid Townsend, principal of MRP Industrial.
“The scarcity of industrial-zoned land created an opportunity for new Class-A product, to create a larger scale product,” Townsend said.
The development is speculative but Townsend said his company has many active tenant prospects, mostly regional distribution companies, with the potential for a pharmaceutical company.
Construction should begin in early July and both buildings should be finished by the end of the year, he said.
He declined to disclose the estimated construction costs.
The buildings will go up on three residential lots located on land that is industrial-zoned. Once the owners vacate the residences, demolition will begin, he said.
The first building will be a single-story structure covering 114,400 square feet, while the second building will be 145,800 square feet. Both buildings will have 32-foot ceiling heights and the potential to integrate a high percentage of commercial office space.
The architect is Ware Malcomb of Woodbridge, N.J.
The exclusive leasing brokers are Brian Knowles and Andrew Komisor of Lee & Associates of Eastern Pennsylvania, both of whom brokered the land sale transaction.