Matrix Development acquires 205 Acres at United Business Park in Shippensburg, PA
MATRIX DEVELOPMENT ACQUIRES 205 ACRES AT UNITED BUSINESS PARK IN SHIPPENSBURG, PA
Camp Hill, PA, June 16, 2016–
Matrix Development Group has acquired 205 acres of industrial land in United Business Park from the Cumberland Valley Regional Development Corporation (CVRDC). The land is located in Shippensburg, PA, immediately off Interstate 81 at Exit 24, and has been approved for the development of two warehouse facilities totaling approximately 2,700,000 SF.
According to Dave Thomas, Vice President of Industrial Development for Matrix, the site represented a great opportunity for the firm to expand its development portfolio in central Pennsylvania. “The land in United Business Park represents one of the few sites along the Interstate 81 corridor where large-scale industrial development is truly feasible, with great access to I-81, utility infrastructure in place, and a strong workforce,” said Thomas. Matrix is currently among the most active industrial developers in the Pennsylvania and New Jersey marketplace having developed more than 30 million SF of industrial property. Currently, Matrix has an additional 10 million square feet poised for Build-To-Suit delivery. The addition of United Business Park to Matrix’s growing Pennsylvania portfolio allows the firm to offer various leasing and/or build-to-suit options.
Dave Sciamanna, Executive Director of CVRDC added “We are excited to have a developer of Matrix’s quality associated with the United Business Park. They did a phenomenal job with the World Kitchen property in southern Franklin County, and their presence in the park brings highly competitive, large scale, vertical development capability to the table.”
Matrix was represented by Lee & Associates of Eastern Pennsylvania in the transaction, led by Brian Knowles and John Van Buskirk. Recently tapped by CVRDC to handle the marketing on the remainder of the park, Knowles and Van Buskirk will also be promoting the Matrix sites for lease. “These sites are unique. The ease of access to Interstate 81 is really remarkable, and Matrix has been very smart in the way they’ve programmed these sites with tons of parking and great onsite circulation”, said Van Buskirk. He added “There just aren’t many opportunities of this caliber for building footprints at 1,200,000 SF and 1,500,000 SF in the Philadelphia market. We expect the sites will be highly competitive as more and more companies like Procter & Gamble (1,700,000 SF) and Georgia Pacific (1,500,000 SF) continue to draw on the efficiencies of scale offered by well-located large buildings able to effectively serve the Northeast and Mid-Atlantic populations.”
For updates and more information on this project, visit www.lee-associates.com/pennsylvania or contact Lee & Associates of Eastern Pennsylvania.
About Matrix Development Group
For more than 35 years, Matrix Development Group has consistently maintained its position as one of the Northeast’s most respected real estate investment and development firms. The company’s unyielding dedication to integrity, excellence, and innovation has earned Matrix the respect of its clients, municipal and regional government officials, and corporate leaders throughout New Jersey and Pennsylvania. Since its founding, Matrix Development Group has prosecuted more than 30 million square feet of some of the region’s most exciting industrial developments, more than of 5.0 million square feet of office, as well as mixed-use urban initiatives. Additional operating companies Matrix Residential Properties, Matrix Golf & Hospitality, Matrix Construction and Matrix Asset Management also operate under the Matrix Companies umbrella.
Additional information about Matrix Development Group and the Matrix Companies is available at http://www.matrixcompanies.com/overview.html
About Lee & Associates of Eastern Pennsylvania
Lee & Associates of Eastern Pennsylvania commenced operations in May 2015 under the leadership of Principals Brian Knowles, SIOR, CCIM, MCR, Jack Shepley, SIOR and John Van Buskirk, SIOR. Recognized individually as national leaders in the industrial real estate business, together they bring over 75 years of experience and have channeled it in a new direction – as broker-owners of this unique initiative. Lee & Associates of Eastern Pennsylvania is committed to providing market leading research and support, while remaining grounded in exceptional client service. For the latest news about Lee & Associates of Eastern Pennsylvania, visit www.lee-associates.com/pennsylvania or follow us on Facebook, LinkedIn and Twitter.
About Lee & Associates
Celebrating more than 37 years of leadership excellence in commercial real estate, Lee & Associates is the largest broker-owned firm in North America, with locations across the U.S. and Canada including California, Colorado, Arizona, Florida, Georgia, Idaho, Illinois, Indiana, Kansas, Maryland, Michigan, Missouri, Nevada, New Jersey, New York, Ohio, Pennsylvania, South Carolina, Texas, Vancouver BC and Wisconsin. With more than 850 brokers nationwide, Lee & Associates provides a wide range of specialized commercial real estate services on a local, regional and national level.