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1200 S Antrim WayGreencastle, PA 17225
1200 South Antrim Way
Asset ClassIndustrial
# Tenants1
% Leased: 100%# Tenants: 1Square Feet: 1,012,103Access Data Room
Short WALT | I-81/78 Corridor | Single Tenant
overview of deal

Overview

As exclusive agent, Cushman & Wakefield’s National Industrial Advisory Group is pleased to offer a 100% fee interest in 1200 South Antrim Way for sale. This institutionally owned and maintained 1,012,103 square foot warehouse has received over $21 million of capital investment over the past decade, and is fully leased to Corelle Brands through August 2026. The building features 81 loading positions, 151+ trailer parks, and an opportunity for a 250,000 SF expansion. Located along the highly desirable I-81 Corridor in Greencastle, PA, the property is proximate to major highways including I-81, I-76/PA Turnpike, I-83 and I-283, providing access to NYC, Washington DC, Philadelphia, Pittsburgh, and Baltimore within a four-hour drive. The property is situated among the largest concentration of million square foot distribution facilities in the country, with notable tenants in this market that include Walmart, Lowe’s, Amazon and FedEx.

 

1200 South Antrim Way has served as one of the primary distribution centers for Corelle Brands (previously World Kitchen/Instant Brands) in the Northeast region since 1960. The company packages and distributes its Corelle, Pyrex, CorningWare, Snapware, and Chicago Cutlery brands from the building, which is strategically located between its manufacturing plants in Charleroi, PA, and Corning, NY. Potential buyer will have the opportunity to mark in place rent to market in the first two years.

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Investment Highlights

Sticky Tenant, Quality Improvements and Site

  • Corelle Brands has occupied the entire building since 1960
  • 81 loading positions and expandable by 250,000 SF
  • 150+ trailer parking spaces and 500+ car parks

Value Opportunity

  • Mark to market opportunity with current LXD of August 2026
  • Only occupier “value proposition” million square foot building in the submarket
  • 42% NOI growth over 11-years

Compelling I-81/78 Market Dynamics

  • 18.3 MSF of net absorption in 2023
  • 5.7 MSF of leasing activity in Q1 2024
  • Market occupancy rate of 94.3%

Location

  • 1 mile from I-81, 14 miles from US Route 30 and 50 miles from I-76
  • Within a 4-hour drive of New York City, Philadelphia, Washington DC, Pittsburgh, and Baltimore
  • 4 of the top 11 US MSA’s by GDP within a 1-day truck drive
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1200 S Antrim WayGreencastle, PA 17225

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Listing provided by Revere CRE