Rockefeller Group sells 453,600 SF warehouse in Lehigh Valley for $91M
JLL Capital Markets closed the sale of 800 Willowbrook Road to Link Logistics
PHILADELPHIA, Jan. 18, 2023 – JLL Capital Markets, working on behalf of Rockefeller Group, announced today that it has closed the $91 million sale of 800 Willowbrook Road, a Class A warehouse/distribution property totaling 453,600 square feet in Northampton, Pennsylvania.
JLL represented the seller, Rockefeller Group, in the sale to Link Logistics.
“Rockefeller Group is excited to have completed the sale of the final building at Rockefeller Group Logistics Park and looks forward to developing more projects in Lehigh Valley in the future,” said Zac Csik, Vice President, Rockefeller Group NJ/PA Development. “It was a pleasure working with the teams at JLL and Link Logistics on the project as Link continues to grow its portfolio in the Northeast.”
Rockefeller Group Logistics Park includes three logistics buildings totaling 1.8 million square feet.
Completed in 2022, the cross-dock distribution facility features 36’ clear heights, four drive-in doors, 90 dock doors, 59 trailer stalls and 264 auto parking spaces.
Positioned on 36 acres in the heart of the Lehigh Valley Industrial market, 800 Willowbrook Road is located off Route 22 offering connectivity to Interstate 78 and the region’s expansive highway network. This accessibility allows tenants to reach 40% of the U.S. population within a day’s drive and 50% of all Canadian consumers. The property is adjacent to the largest FedEx Ground Hub in the United States while also providing proximity to rail services from Norfolk Southern and CSX, Port Newark Elizabeth Marine Terminal, PhilaPort, Lehigh Valley International Airport and Newark Liberty International Airport.
The JLL Capital Markets Investment Sales Advisory team representing the seller was led by John Plower, Ryan Cottone and Zach Maguire, alongside their partners on the industrial brokerage team, led by Paul Torosian and Jeff Lockard.
“Our team is proud to have partnered with the Rockefeller Group to see this project through its life cycle, as the leasing and sale agents,” said Senior Managing Director John Plower. “The property represented a great opportunity for the buyer to add a best-in-class asset, leased long term, to their portfolio.”
JLL’s Capital Markets group is a full-service global provider of capital solutions for real estate investors and occupiers. The group’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment and sales advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
For more news, videos, and research resources on JLL, please visit our newsroom.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $19.4 billion, operations in over 80 countries and a global workforce of more than 102,000 as of September 30, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Rockefeller Group
Rockefeller Group develops, owns and operates extraordinary properties across the United States. For nearly a century, the company has delivered exceptional experiences and value creation through dedication to quality in the built environment. The company's portfolio spans the development of office, multifamily, industrial and mixed-use projects across six geographic regions as well as significant ownership interest in and management of approximately six million square feet of world-class office space in Manhattan. Visit RockefellerGroup.com.
About Link Logistics
Link Logistics is a leading national owner of last-mile logistics real estate designed to meet the needs of the modern supply chain. The Company, established in 2019 by Blackstone, operates the largest portfolio of logistics real estate assets located exclusively in the U.S. As of September 30, 2022, Link serves more than 11,000 customers and owns, has interests in, or has under development logistics facilities across key distribution markets in the U.S. that will represent a total of 550 million square feet (478 million square feet at pro rata share) when completed. Link has the scale, geographic footprint and logistics expertise, as well as a heightened focus on sustainability, to power the supply chain of tomorrow. For more information regarding the Company, please visit linklogistics.com.