Panattoni Acquires Distribution Facility in York County, PA From Harley-Davidson
Monday, August 8th 2011
Manchester, PA–Panattoni Development Company, Inc. has recently purchased 75 Steamboat Boulevard, a 193,000-square-foot distribution/warehouse in York County, PA from the Harley-Davidson Motor Company.
The building, located in Brickyard Industrial Park, was developed by Harley-Davidson in 2002 and served as a Materials Velocity Center for their local manufacturing operation. The firm now uses a third-party provider for services and vacated the property in July 2011.
“Panattoni was attracted to the high quality of 75 Steamboat Boulevard, and an opportunity to acquire the largest block of Class A space available in the York County submarket,” said Panattoni Partner, D. Reid Townsend. “The property also fits well into our overall strategy for expanding the Panattoni industrial portfolio across the Northeast. When combined with our acquisition of Camp Hill Crossings and Key Logistics Park earlier this year, Panattoni is now well positioned to respond to requirements ranging from 200,000 up to 1.5 Million square feet in Central Pennsylvania.”
The building contains several above standard features which help position the property as a premium alternative in a submarket which steadily maintains a vacancy rate below 8.0%. These include 32’ clear height ceilings, 12,000 square feet of finished office space, new T5 lighting, a fenced and secured site, 100-car parking lot and 152 trailer storage spaces. The site also offers expansion capabilities which can increase the size of the building up to 310,000 square feet.
James T. Barry, III of Cassidy Turley, and Lee E. Fein and Michael Zerbe of Colliers International represented the Seller. Gerry Blinebury, Pat McBride and Leah Balerno of Cushman and Wakefield will represent the property for Lease.
Panattoni Development Company is a privately held, full service development company founded in 1986. The firm has completed in excess of 150 million square feet of commercial projects worldwide. Panattoni has developed industrial, office and retail facilities in more than 240 markets. The firm is headquartered in Sacramento, California and maintains offices throughout the United States, Canada and Europe.