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Missouri Developer Scoops up Hanover Township Warehouse

09.28.2017

Hanover Township, PA - The developer of Chewy.com and two other huge buildings being constructed has purchased a warehouse in the area for more than $10.7 million.

 

Missouri-based NorthPoint Development purchased the warehouse at 32 Earth Conservancy Drive from Corridors Portfolio LP, according to a deed from Luzerne County Recorder of Deeds.

 

“We buy buildings across the country,” said Brent Miles, vice president for NorthPoint Development. “We like the area.”

 

The warehouse purchased is the site of Hanover Distribution Center, which repairs pallets used by Wal-Mart and other stores. Products are stacked on the pallets for shipping.

 

A listing from LoopNet.com, a heavily trafficked commercial real estate marketplace online, states the 248,640-square-foot industrial property is “off-market.”

 

Miles said purchasing the warehouse was good for NorthPoint Development’s portfolio.

 

Pet food retailer Chewy.com recently opened an 800,000-square-foot fulfillment center in another NorthPoint Development nearby with the goal of creating 700 jobs.

 

The building is the size of 16 football fields and is located in the part of Hanover Industrial Park called the Hanover Ridge Trade Center.

 

Construction continues next to Chewy.com for another building that is about 840,000 square feet and a third building that is nearly 400,000 square feet.

 

Miles said tenants have not signed leases yet for the other two buildings but “we’re close.” Construction should be completed this year, he said.

 

NorthPoint Development bought the 172 acres last year for $15 million from KTR Capital Partners and construction of the three buildings will total more than 2 million square feet. The goal is to create about 2,000 jobs on the site, Miles said.

 

According to its website, NorthPoint Development has developed and manages about 30 million square feet of industrial properties.

 

Contact the writer: dallabaugh@citizensvoice.com

 

 



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