The demolition has wrapped up and construction has begun on
200 Capital Lane, a 400,000-square-foot warehouse building in the Capital
Logistics Center in Lower Swatara Township.
Last June, New Jersey-based Woodmont Industrial Partners, in
a joint venture with AEW Capital Management LP, spent $27.8 million to acquire
the industrial business park near Harrisburg International Airport.
The partners bought the park with the intention of removing
two of the six structures. The demolished properties are being replaced with
two Class A warehouse facilities as part of a projected $27 million capital
budget to reposition the complex.
“We are excited to begin construction at this site and see
great potential in what this property will become,” said Eric Witmondt,
Woodmont’s CEO.
The property at 200 Capital Lane is slated for completion in
December, with 300 Capital Lane to follow shortly after. The new facilities
will total about 530,000 square feet.
Once construction is completed, the six-building complex
will boast 1.55 million square feet of industrial space, according to Woodmont.
Source: Central
Penn Business Journal
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