Single User Signs on to Lease Entire Warehouse Distribution Facility Outside of Scranton, PA.
The Northeast Metro Business Unit of Trammell Crow Company (TCC), one of the nation’s largest commercial real estate developers and investors, and its JV partner, Diamond Realty Investments, Inc. (Diamond), announce that a full-building lease was signed with a major ecommerce tenant at the Valley View Trade Center in Jessup, Pennsylvania. The tenant will occupy the entire 1,027,660-square-foot building, which is located at 45 Valley View Circle, 20 minutes from Scranton, Pennsylvania.
TCC and Diamond broke ground on Valley View Trade Center in November 2018 after securing a construction loan from Texas Capital Bank. The speculative distribution facility was completed in August 2020 and features 40’ clear height, 190’ deep truck courts with opposing trailer storage, ESFR fire protection, 311 trailer parking spots, 277 car parking spots, and 159 dock positions, expandable to 209.
“In the planning and construction of the Valley View Trade Center, TCC and our partners worked closely with the Scranton Lackawanna Industrial Building Company and other leaders in the region to ensure that this project would deliver high-quality industrial space that would attract top-tier users and jobs to the local community,” said Andrew Mele, Managing Director of TCC’s NE Metro Business Unit. “We are pleased to have signed a long-term commitment with a single user that will bring quality jobs to the area and contribute to growing the local economy.”
William Wolf and Max Wolf of CBRE represented the owners in the transaction.
About Trammell Crow Company
Trammell Crow Company (TCC), founded in 1948, is one of the nation’s leading developers and investors in commercial real estate. The Company has developed or acquired 2,800 buildings valued at nearly $70 billion and over 625 million square feet. As of December 31, 2020, TCC had $14.9 billion of projects in process and $6.1 billion in its pipeline. It employs nearly 600 professionals in the United States and Europe.
Trammell Crow Company’s teams are dedicated to building value for its clients with professionals in 18 major cities throughout the United States and Europe. The company serves users of and investors in office, industrial, healthcare, multi-family residential, through its operating subsidiary High Street Residential, and mixed-use projects. For those who occupy real estate, TCC can execute the development or acquisition of facilities tailored to meet the needs of its clients. For investor clients, the company specializes in joint venture speculative development, acquisition/re-development ventures, build-to-suit development and providing incentive-based fee development services.
TCC is an independently operated subsidiary of CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, and the world’s largest commercial real estate services and investment firm (in terms of 2020 revenue). For more information visit www.TrammellCrow.com.
