Chambersburg Logistics Park
Chambersburg Logistics Park
Cushman & Wakefield Equity, Debt & Structured Finance has been exclusively retained by an affiliate of Endurance Real Estate Group (the “Sponsor”) to arrange joint venture equity and construction financing for the acquisition and development of Chambersburg Logistics Park (the “Property” or “Project.”) Ownership will entertain a variety of deal structures including but not limited to; joint ventures, pre -sale, forward commitment, and land sale.
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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
- DevelopmentAcquisition
- Risk Profile
- Opportunistic
EXECUTIVE SUMMARY
Chambersburg Logistics Park, a ±1,006,500 square foot speculative industrial development opportunity is situated on 92 acres along Interstate 81. The property’s strategic location is evidenced by neighbors such as Walmart, FedEx, Black & Decker, Amazon and Macy’s. This stretch of I-81 added approximately 6.5 million square feet of build-to-suit activity since 2020, making it one of the most desired locations among active users. The Project’s estimated development budget is $78.4 million (ex-land) and is anticipated to close in June 2022, with construction commencement late 2Q2022.
OFFER REQUIREMENTS
Ownership has not established definitive requirements, but is a market-oriented partner with expectations that are consistent with the quality of the asset and current market conditions.
All offers should include:
- Purchase price and/or joint venture terms (including details on land allocation, fees, governance, capital contributions, and promote structure)
- Timing for inspection period and closing data
- Specific detail regarding contemplated financing components
- Financial strength of partner
- Summary of transactions and references
BID DATE
Bid date is targeted for April 2022. Written notification will be sent regarding the bid date. Initial bids must be submitted to the attention of Gerry Blinebury, and John Alascio. The Owner reserves the right to accept an offer prior to this date or to remove the property from the market at any time.
INSPECTIONS
On-site meetings and market tours will be scheduled immediately upon request both pre and post offer due date.