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45 Bay Hill Dr, Mt Pleasant, PA 321 Cherry Hills Dr, Latrobe, PA
Westmoreland County Airpark
Asset ClassIndustrial
# Buildings2
Square Feet: 157,500% Leased: 100%# Buildings: 2Access Data Room
overview of deal

Overview

As exclusive agent, Cushman & Wakefield’s National Industrial Advisory Group is pleased to offer a 100% fee interest in the Westmoreland County Airpark for sale. This 157,500 square foot, fully leased, industrial portfolio is made up of two buildings both located in the Westmoreland Airpark in Latrobe, Pennsylvania. With 1.6 years of WALT and below market rents, this portfolio offers buyers the opportunity to acquire two institutional quality assets with an immediate mark-to-market opportunity.

 

45 Bay Hill Drive Features:

  • 19’-6” clear height
  • 9 loading docks and 8 drive-in doors.
  • 6 tenants fully occupy the 75,000 SF with a WALT of 1.18 years

321 Cherry Hills Drive Features:

  • 19’-6” clear height
  • 10 loading docks and 8 drive-in doors
  • 6 tenants fully occupy the 82,500 SF with a WALT of 1.89 years

The Westmoreland County Airpark is located directly next to the Arnold Palmer Regional Airport in Latrobe, PA, which is about 40 miles east of Pittsburgh. The park currently has more than 680,000 SF of building space, over 90 developed acres with a potential for eight additional industrial development opportunities. The park is within two miles of U.S. Route 30 and 11 miles of the New Stanton I-70 and I-76 (PA Turnpike) interchange.

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Investment Highlights

Immediate Mark-to-Market Opportunity

  • 12 tenants across two buildings with 1.6 years of WALT
  • Below market rents
  • 39% NOI growth over 3-years

Connectivity to Markets and Labor

  • 2 miles from U.S. Route 30 and 11 miles from I-70 and I-76 (PA Turnpike) Interchange
  • 41,935 blue collar workers in Westmoreland County
  • 42,423,497 consumers within a 5-hour drive

Westmoreland County Market Dynamics

  • Westmoreland County has an industrial inventory of 23,400,000 SF
  • Current vacancy in this pocket sits at 7.0% as of Q4 2024
  • This pocket saw roughly 110,000 SF of new leasing in Q4 2024
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45 Bay Hill DrMt Pleasant, PA 15666
Arnold Palmer Regional Airport
Pittsburgh

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Listing provided by Revere CRE