Cushman & Wakefield Brokers 111,000-Sq.-Ft. Industrial Lease
MWI Veterinary Supply to Relocate to Jay Group Property in Elizabethtown, Pa.
- Philadelphia, PA-NJ (1888PressRelease) August 24, 2011 - Commercial real estate services firm Cushman & Wakefield, Inc. has brokered a long-term, 111,000-square-foot industrial lease to MWI Veterinary Supply, Inc. at 1499 Zeager Road in Elizabethtown. The company will relocate its regional distribution operation to the 280,000-square-foot warehouse facility from Harrisburg, Pa.
Cushman & Wakefield's Gerry Blinebury, Pat McBride and Leah Balerno, all part of the firm's Philadelphia industrial brokerage practice group, serve as exclusive leasing agents for 1499 Zeager Road. The Jay Group, a third-party logistics company that provides order fulfillment services, contact center support, contract packaging, and distribution capabilities, owns the 280,000-square-foot, multi-tenant property; the Cushman & Wakefield team represents the firm's portfolio needs on a national basis.
MWI Veterinary Supply distributes animal health products to veterinarians across the United States and United Kingdom. Its products include pharmaceuticals, vaccines, parasiticides, diagnostics, capital equipment, supplies, veterinary pet food and nutritional products.
1499 Zeager Road provides modern, food-grade warehouse accommodations, including 37-foot clear ceilings, 46 loading docks with one drive-in door, ESFR sprinklers, advanced security and others features. Tenants enjoy ample car and trailer parking as well as onsite rail service.
"The Jay Group has made a number of recent upgrades at the property that have enhanced its already competitive position in the local market," Blinebury said. Approximately 125,000 square feet remains available, divisible to 20,000 square feet. The property also is fully entitled for an additional, 150,000-square-foot building.
Located in the Conewago Industrial Park, 1499 Zeager Road sits on 55 acres just off Route 283 in South Central Pennsylvania, one of the state's fastest-growing industrial real estate markets. Proximity to interstates 83, 81 and 78, and the Pennsylvania Turnpike contribute to the region's position as an emerging distribution hub.
Cushman & Wakefield, Inc.'s industrial brokerage platform provides global resources and local expertise for tenant and landlord representation, disposition and acquisition services, transaction management, and industrial consulting including labor and demographic analysis. In 2010, this group completed more than 4,800 industrial real estate transactions - totaling 141.6 million square feet in leases and 52.9 million square feet in sales - with an aggregate value of nearly $5 billion. This represented a year-over-year revenue increase of 26.7 percent.
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