Dermody Properties, a national private equity real estate investment, development and management company focused exclusively on the logistics real estate sector, is pleased to announce the lease of LogistiCenter℠ at Lehigh Valley East Building 1, located at 450 E. Moorestown Rd., to Iron Mountain and CONRI Services, Inc.
Iron Mountain is a global leader in innovative storage, data center infrastructure, asset lifecycle management and information management services. This location expands its consumer storage division, as well as corporate data and physical storage. CONRI Services, Inc. offers warehousing and fulfillment services to a variety of customers, including publishing, home decor, gifts and tea. The company is expanding its existing footprint in New York and New Jersey to accommodate both existing and new customers and will lease the remaining 116,640 square feet of the state-of-the-art space.
“We are pleased to welcome Iron Mountain and CONRI Services, Inc. to LogistiCenter℠ at Lehigh Valley East,” said Rob Borny, East Region Partner at Dermody Properties. “With the addition of both of these great companies to our project, LogistiCenter℠ at Lehigh Valley East is fully leased. These companies join a collection of large e-commerce, distribution, warehouse and light manufacturing companies in Eastern Pennsylvania.”
The leased space contains a total of 349,920 square feet and features a 36-foot clear height, 62 trailer parking spaces and 197 car parking spaces.
“The property’s strategic location in Lehigh Valley provides a significant advantage for these tenants who are both looking to expand, particularly with its access to major highways and arterials,” said Elizabeth Kauchak, Chief Operating Officer at Dermody Properties. “Dermody Properties remains committed to the region and sourcing the best acquisition and development opportunities for our customers.”
Brian Knowles and Eric Zahniser of Lee & Associates represented Dermody Properties in the lease transactions. Ed Soriano and Larry Maister of JLL represented Iron Mountain and Jeff Lockard of JLL represented CONRI Services, Inc. LogistiCenter℠ at Lehigh Valley East Building 2, located at 460 E. Moorestown Rd., was leased to Mainfreight, Inc. earlier this year.
LogistiCenter℠, a nationally trademarked brand owned and developed by Dermody Properties, represents the company’s business philosophy of developing Class A distribution and logistics facilities that meet the supply chain requirements of the most innovative companies.
About Dermody Properties
Dermody Properties is a privately-owned real estate investment, development and management firm that specializes in the acquisition and development of logistics real estate in strategic locations for e-commerce fulfillment centers, third-party logistics and distribution customers. Founded in 1960, Dermody Properties has invested more than $6.2 billion of total capital across all platforms nationwide, having acquired and developed approximately 100 million square feet of logistics and industrial facilities. In addition to its corporate office in Reno, Nev., it has regional offices in northern and southern California, Atlanta, Phoenix, Seattle, Chicago, Dallas and New Jersey. For more information, visit www.Dermody.com.
About Iron Mountain
Iron Mountain Incorporated (NYSE: IRM) is a global leader in innovative storage, data center infrastructure, asset lifecycle management and information management services. Founded in 1951 and trusted by more than 225,000 customers worldwide, Iron Mountain helps customers CLIMB HIGHER™ to transform their businesses. Through a range of services including digital transformation, data centers, secure records storage, information management, asset lifecycle management, secure destruction, and art storage and logistics, Iron Mountain helps businesses bring light to their dark data, enabling customers to unlock value and intelligence from their stored digital and physical assets at speed and with security, while helping them meet their environmental goals. To learn more about Iron Mountain, please visit: www.ironmountain.com and follow @IronMountain on Twitter and LinkedIn.