Mericle Adds 6 Spec Industrial Buildings in Pennsylvania
Mericle Commercial Real Estate which is a privately-owned commercial real estate development and brokerage company in northeastern Pennsylvania, has started construction on six speculative industrial and flex buildings in CenterPoint Commerce & Trade Park in Jenkins Township and Pittston Township, Pa.
The buildings will range in size from 42,000 square feet to 310,000 square feet, totaling 802,000 square feet. The propeties will complement four large industrial buildings recently constructed by Mericle at the site that can accommodate tenants needing from 200,000 square feet to 1 million square feet.
When completed in late 2019, CenterPoint will feature 43 buildings totaling 10.7 million square feet. Currently, there are 51 tenants employing about 5,500 workers and that number is expected to increase to about 7,500 upon full occupancy. CenterPoint is less than one mile from Interstates 81 and 476 and 10 miles from Scranton, Pa., and Wilkes-Barre, Pa.
Mericle President Robert Mericle said all the new buildings can be divided into smaller spaces. Several will be flex buildings suitable for manufacturing, distribution, office and medical firms.
Mericle said in statement, “For the past several years, there has been strong interest from distribution and manufacturing firms needing bulk industrial space in excess of 200,000 square feet. However, lately we have seen a noticeable increase in requests for smaller spaces ranging from 6,000 square feet to 60,000 square feet. Most of our small spaces at CenterPoint are occupied so our 2019 projects will help us meet the needs of a wider variety of businesses.”
Mericle said that the strong economy coupled with the requests for smaller spaces led him to the decision to construct the new spec buildings.
“There are many companies that lease space in outdated buildings. They are hampered by low ceilings, narrow column spacing, tight truck courts and lighting and heating systems that are not energy efficient. Some are even located in buildings in residential neighborhoods that are located a considerable distance from the nearest highway. Our new CenterPoint buildings will give them the opportunity to move to a much better, energy-efficient space, immediately adjacent to two interstates, at a lower overall operating cost.”
Source: CP Executive