CBRE Global Investors acquires newly built 1.4msf logistics portfolio

A fund sponsored by CBRE Global Investors has acquired a 1.4 million-square-foot logistics portfolio comprising one asset in Lebanon County, Pa., and a second asset in a suburb of Atlanta.

The first asset is located at 53 Central Boulevard in Myerstown, Pa. Located within the Central Logistics Park, the building spans 832,000 square feet and was completed in 2018. The property sits on a 72.85-acre site and features an ESFR fire suppression system; 36-foot clear height; cross-dock loading; 54-foot by 50-foot and 54-foot by 60-foot column spacing; and a 190-foot truck court. The building is partially occupied by a leading third-party logistics provider, with remaining square footage available for lease. The CBRE National Partners Northeast team comprising Michael Hines, Brian Fiumara, Brad Ruppel and Lauren Dawicki marketed the facility and negotiated the terms of the sale on behalf of the seller.

The second asset, 1380 Jesse Cronic, is located within Park 85 in Braselto