Lehigh Valley Trade Center II Nears Completion as Phase III Breaks Ground
Trammell Crow Company (TCC), the nation’s largest commercial real estate developer, and Clarion Partners announced that construction is progressing at the Lehigh Valley Trade Center (LVTC) in Bethlehem, Pa. LVTC II is nearing completion and will deliver 527,000 square feet of Class A warehouse and distribution space to the market. The nearby LVTC III will include 588,000 square feet of warehouse/distribution space and is expected to be completed by late 2023.
Located at 4939 Hanoverville Road, LVTC II is a single-story, cross-dock facility on a 37.8-acre site. The single-story building is available for lease and is ideally suited for a variety of users. Facility features include 40’ clear height, 119 dock doors, four drive-in doors, 250 vehicle parking spaces, 154 trailer parking spaces, LED lighting and an ESFR sprinkler system. The building is being built to LEED Silver standards.
Located at 4733 Hanoverville Road, LVTC III includes two single-story facilities featuring best-in-class clear heights, dock doors and parking ratios. LVTC III sits on three parcels of land, one of which was donated by TCC to allow scuba diving to continue at the quarry lake on the site. Formerly known as Dutch Springs, Lake Hydra will be operated by D.I.V.E. LLC for recreation divers and first responders, who utilize the lake as a training facility.
"D.I.V.E. LLC would like to commend TCC and Clarion Partners for their forward thinking and generosity in their donation of the lake. Without their team's support and understanding, scuba diving in our community would have been lost. It was a pleasure to work with developers who invest back into the communities in which they operate," said Ken Kraft and Jim Folk of DIVE.
“Along with Clarion, TCC was pleased to have worked with the community and with Ken and Jim from DIVE LLC. to donate a parcel of land to keep the quarry open for divers. We wish their business great success and look forward to our continued partnership and moving forward in construction process for Phase III,” said Matt Nunn, Principal with TCC’s Northeast Metro team. “The Lehigh Valley is a fast-growing market for logistics space. This particular area where our project is benefits greatly from the market’s strong infrastructure, abundance of labor, and access to major metropolitan cities along the east coast.”
“Clarion is delighted to have worked with TCC in creating a mutually beneficial solution for the parties involved, allowing for the newly named Lake Hydra to continue serving the diving community, as well to be utilized for training purposes for first responders,” said Clarion Partners Vice President Guilherme Palocci. “We are looking forward to building the new phase of the project in this strategic distribution location. The project will be best-in-class, built with many sustainable features and will be attractive to a wide range of tenants.”
Peak Construction is acting as the general contractor for LVTC and KSS Architects is designing the facility.
LVTC II and III mark the next phases of development at the 1.2-million-square-foot Lehigh Valley Trade Center industrial park, which was built by TCC in 2016 and is currently owned by Clarion. The park is strategically located in the heart of the Lehigh Valley, providing easy access to major Northeast metropolitan areas via I-78 and parcel carrier facilities, including FedEx, UPS, and USPS.
About Trammell Crow Company
Trammell Crow Company (TCC) is a leading global commercial real estate developer and a wholly owned subsidiary of CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas. Founded in 1948, TCC has developed or acquired nearly 2,900 buildings valued at $75 billion and over 655 million square feet. As of September 30, 2022, TCC had $19.5 billion of projects in process and $13.5 billion in its pipeline. It employs 700 professionals in 27 major cities throughout the United States and Europe. The company serves users of and investors in office, industrial/logistics, healthcare, life sciences and mixed-use projects, as well as multi-family residential through its operating subsidiary High Street Residential. For more information visit www.TrammellCrow.com.
About Clarion Partners
Clarion Partners, an SEC registered investment adviser with FCA-authorized and FINRA member affiliates, has been a leading U.S. real estate investment manager for 40 years. Headquartered in New York, the firm maintains strategically located offices across the United States and Europe. With $81.4 billion in total assets under management, Clarion Partners offers a broad range of real estate strategies across the risk/return spectrum to its more than 500 domestic and international institutional investors. Clarion is a leader among U.S. industrial portfolio operators, with particular emphasis on warehouse/distribution facilities, and a 920-property portfolio (consisting of more than 211 million square feet and currently valued at $42.8 billion), located in 45 markets across the United States and Europe. More information about the firm is available at www.clarionpartners.com.
