Overview
As exclusive agent, Cushman & Wakefield’s National Industrial Advisory Group is pleased to offer a 100% fee interest in 532 E Emaus Street.
This 435,846 square foot industrial building is 97% leased to multiple tenants with a WALT of 7.8 years. Located in Middletown, PA, the property is proximate to major highways including I-83, I-76 PA Turnpike, and I-81, providing access to Baltimore, NYC, Philadelphia, Pittsburgh and Washington DC within a five-hour drive. Notable tenants in this area include Amazon, FedEx, DHL, IPEX, Allen Distribution, Syncreon and Goodwill.
The property features varying clear heights, 40 loading positions and 41 drive-in doors. The building is 97% leased to eight tenants with an additional land lease for trailer parking and has a WALT of 7.8 years. 532 E Emaus Street represents an opportunity to acquire a multi-tenanted asset in an ideal infill location with the opportunity to grow NOI in the near term.
Investment Highlights
Location
- Adjacent to Harrisburg International Airport and proximate to UPS and FedEx Ground Hubs
- Middletown, PA is a highly desirable labor pocket for industrial workers
- Located in the heart of the Central PA market just three miles from I-283, five miles from I-76 PA Turnpike, 12 miles from I-83 and 13 miles from I-81
- Within a five-hour drive of Baltimore, New York City, Philadelphia, Pittsburgh and Washington DC
- Four of the top 25 US MSA’s within a 1-day truck drive
Quality Infill asset
- 97% leased to eight tenants with an additional land lease for trailer parking
- Rail served and three miles from Harrisburg International Airport
- Property features 40 dock high doors and 41 drive-ins
Value Creation
- Below market rents and a WALT of 7.8 years
- 36% increase in NOI over 7 years
- Land Lease of 150 trailer spaces
- Infill location would allow future high density residential conversion
Compelling market
- Central PA lead the I-81/I-78 Corridor with 2 MSF of leasing activity in Q2 2025
- The Central PA Market saw 85% annual asking rent growth over the last 5 years
- Central PA’s vacancy remains strong at 6.0%
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