San Antonio, TX – January 23, 2012 – (RealEstateRama) — Trammell Crow Company and USAA Real Estate Company have announced that they are breaking ground on a 700,000 square foot Class A speculative distribution facility at Mountain Creek Distribution Center in Carlisle, PA.
Mountain Creek Distribution Center is a two building industrial project situated on 113 acres at Exit 44 of Interstate 81 in the renowned Central Pennsylvania industrial market. The project is approved for 1,302,500 square feet of Class A warehouse/distribution space designed to achieve LEED Core & Shell (CS) certification.
The first building, scheduled for completion in the summer of 2012, is designed with cross dock loading, 32’ clear ceiling heights, 60’ x 47’6” typical bay spacing, ESFR sprinkler systems and ample onsite trailer storage.
“The I-81 Distribution Corridor continues to be one of the most active markets in the country, with little to no availability for Class A space greater than 500,000 square feet,” says Pat Duncan, Chairman and CEO of USAA Real Estate Company. “We are very excited to again be working with Trammell Crow on this new delivery.”
“Over the past decade the I-81 Corridor in Pennsylvania firmly established itself as one of the top industrial markets in the country. The market’s comparatively strong performance throughout the economic downturn has further solidified its position as a top tier market” said Andrew Mele, Senior Vice President, Trammell Crow Company. “We believe the project is well positioned to capitalize on continued market demand.”
Trammell Crow Company, under the direction of Andrew Mele and George Laigaie will manage the day to day development responsibilities. A Jones Lang LaSalle team, led by John Van Buskirk and Jason Webb, has been engaged to market the project to potential tenants.
About USAA Real Estate Company
USAA Real Estate Company manages a multi-billion dollar portfolio including recent acquisitions of $3 billion and development assets of $2 billion. The company provides co-investment asset management services to U.S. pension funds as well as foreign and domestic institutional investors. USAA Real Estate Company also provides capital to partners for development. The portfolio consists of office, industrial, multi-family, retail and hotel properties as well as investments in real estate operating companies. USAA Real Estate is a subsidiary of USAA, a leading financial services company, serving military families since 1922. For more information, visit www.usrealco.com.
About Trammell Crow Company
Trammell Crow Company, founded in 1948, is one of the nation’s leading developers and investors in real estate. It has developed or acquired over 525 million square feet of buildings with a value exceeding $55 billion. As of June 30, 2011, Trammell Crow Company had over $3.5 billion of projects in process, $1.4 billion in its pipeline and $1.4 billion in long term operating assets.
Trammell Crow Company is an independently operated subsidiary of CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services firm (in terms of 2010 revenue). For more information, visit www.TrammellCrow.com.