521 West Babbitt Ave
521 West Babbitt Ave
Fully-Leased, Value-Add Industrial Opportunity In The Lehigh Valley
Revere is an invite-only digital network and deal marketplace for commercial real estate professionals, with $50 billion in deal volume launched this year.
Connect with 50,000+ professionals today
Gerard J. Blinebury, Jr., joined Cushman & Wakefield in 2001 and currently serves as Vice Chairman of the Industrial Brokerage Group and Partner in Cushman & Wakefield’s Industrial Advisory Group (IAG), specializing in the Industrial Asset Class throughout Eastern Pennsylvania. Mr. Blinebury has a broad range of experience working with institutional owners and corporate users throughout the I-81 and I-78 corridors as well as the Suburban Philadelphia Industrial Markets. This experience includes agency leasing, building sales, land sales, tenant/ buyer representation and the marketing of investment grade industrial buildings and industrial parks. Prior to joining Cushman & Wakefield, Mr. Blinebury was associated with Kissinger, Bigatel & Brower, a full-service real estate firm in State College, Pennsylvania.
- Property Type
- Industrial
- Deal Type
- Acquisition
- Risk Profile
- Value-Add
EXECUTIVE SUMMARY:
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.
INVESTMENT HIGHLIGHTS:
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.
BUILDING SPECIFICATIONS:
Total Building SF: 227,800
Warehouse SF: 218,000
Office Area SF: 9,800
Clear Height: 12' - 22'
Dock Doors: 7
Drive-ins: 5