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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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.
- Property Type
- Deal Type
- Risk Profile
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.
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 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.
On-site meetings and market tours will be scheduled immediately upon request both pre and post offer due date.