521 West Babbitt Ave
521 West Babbitt Ave
Fully-Leased, Value-Add Industrial Opportunity In The Lehigh Valley
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Gerry Blinebury joined C&W in 2001 and currently serves as a Senior Director of the Industrial Brokerage Group, specializing in the Lehigh Valley, South Central PA, and North-eastern PA industrial markets, the entire I-81, I-78, I-83 & I-80 distribution corridors. Mr. Blinebury has a broad range of experience working with institutional quality owners and corporate users including agency leasing, building sales, land sales, tenant/ buyer representation and the marketing of investment grade industrial buildings and industrial parks to the capital market investment community.
Mr. Blinebury is a co-founder of Cushman & Wakefield’s Food Services Group and an active member and participant of C&W’s Global Supply Chain Solutions Group. He is consistently one of the top 10 producers for Cushman & Wakefield’s Pennsylvania, Delaware and Southern New Jersey regions. Mr. Blinebury is a graduate of the Pennsylvania State University where he obtained his Bachelor of Science degree in both finance and real estate.
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521 West Babbitt Avenue is a unique fully-leased, value-add industrial opportunity situated in the eastern portion of the Lehigh Valley. Located within one mile of the Route 33 interchange, the 227,800 SF building provides direct access to the tri-state area via I-78 & I-80 and draws labor directly from the town of Pen Argyl. The current tenant MC2 has been in occupancy since 2000, and recently extended its lease by five years at a below market rate of $3.72.
Strong Market Dynamics
As the second largest submarket in the I-78/I-81 Corridor, the Lehigh Valley is strongly represented by 8.7MSF of net absorption and 3.5% overall vacancy.
Rising Rental Rates Mitigate Inflation Risk
Rental rates hit $7.58 at YE2021 and are expected to continue to climb in 2022 and beyond.
Global Tenants Flock To Lehigh Valley
Since 2016, globally recognized tenants have entered and expanded space in the area including Amazon, Verizon, FedEx, UPS, Tesla, Samsung, among others.
Limited Availability & Elevated Demand
With 31.4 MSF of active users in the market, coupled with limited availability and solid e-Commerce demand support another competitive year in 2022.
Total Building SF: 227,800
Warehouse SF: 218,000
Office Area SF: 9,800
Clear Height: 12' - 22'
Dock Doors: 7