October 18, 2018 [Bristol Township, Bucks County, PA] – Bristol Commerce Center (BCC) is proud to announce construction will soon commence on a new 248,500 square foot speculative industrial facility on 20 of the park’s 81 acres. The ESFR sprinklered building will be ready for occupancy Q2 2019.
This move comes at a time when demand is feeling the pressure from a variety of sources including growth in e-commerce and last mile deliveries closer to the inner-core. But supply has not kept pace - tenants are getting frustrated with the lack of available space for lease and user-owners are also faced with a lack of quality buildings to purchase. Recent Colliers market statistics show the second quarter 2018 vacancy rate in the Bucks County market is under 4%.
Additionally, the new facility will feature flexibility to be built at either 36' or 40’ clear height, which is above the area market’s standard of 36’, positioning this facility well for warehouse/distribution and manufacturing uses.
“We have always strived to provide the most flexible structure to meet a tenant's needs and the option of either 36' or 40’ clear ceiling height is just one more added value our future tenants will appreciate and take advantage of.” said Jamie Herring, the Principal of Herring Properties, the developer of BCC. Herring Properties also recently successfully finished the construction of 2151 Green Lane, an 80,000 SF new industrial facility leased to Hughes Enterprises, at the Bristol Commerce Center.
Bristol Commerce Center is located in a designated Keystone Opportunity Expansion Zone (KOEZ) through 2022. The KOEZ designation provides substantial financial tax abatements to businesses looking to relocate or expand in the area. Occupants will not only be afforded KOEZ benefits, but also the newly opened interconnection of the Pennsylvania Turnpike and I-95, which is only 3 miles away. Current tenants include XPO Logistics, AirGas Corporation, Goodyear and PetValu.
For More Information Contact:
Senior Vice President
Direct - 610 684 1858
Mobile – 215 378 6000
About Bristol Commerce Center
Bristol Commerce Center (“BCC”) is an 81-acre multi-building warehouse/distribution complex located on Green Lane in Bristol Township at Exit 358 of the Pennsylvania Turnpike. Its location provides immediate access to the Pennsylvania Turnpike, the New Jersey Turnpike, I-95, Route 1 and bridges to New Jersey. BCC is zoned PI (Planned Industrial).
About Herring Properties
Herring Properties has owned, developed and managed over 2,000,000 SF of space in Pennsylvania, New Jersey and New York. The principal, Jamie Herring, has over 25 years of real estate experience in these markets. In addition to Bristol Commerce Center, which includes a 400,000 SF industrial renovation and over 700,000 SF of development land, the partnership owns 50 acres of land on US I-95 in Ewing, NJ, which has development for over 800,000 of office buildings and several Class A office buildings in Princeton Borough, NJ.
About Colliers International
Colliers International Group Inc. (NASDAQ: CIGI) (TSX: CIGI) is an industry-leading real estate services company with a global brand operating in 69 countries and a workforce of more than 15,400 skilled professionals serving clients in the world’s most important markets. Colliers is the fastest-growing publicly listed global real estate services company, with 2017 corporate revenues of $2.3 billion ($2.7 billion including affiliates). With an enterprising culture and significant employee ownership and control, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide. Services include strategic advice and execution for property sales, leasing and finance; global corporate solutions; property, facility and project management; workplace solutions; appraisal, valuation and tax consulting; customized research; and thought leadership consulting. Regionally, Colliers International has served clients in the Philadelphia area since 1920 and comprises six offices in Eastern Pennsylvania, Southern New Jersey, and Delaware. For the latest news from Colliers International, visit colliers.com/philadelphia, or follow us on Twitter: @ColliersPhilly