CHAMBERSBURG, Pa. (WHTM) — Endurance Real Estate (Endurance), in partnership with Guardian Life Insurance Company of America (Guardian), announced the acquisition and commencement of construction on the Chambersburg Logistics Park warehouse on Tuesday, Nov. 1.
The distribution and warehouse facility is set to be 1,006,500 square feet and will include a multitude of features such as:
- 40 foot clear height
- 166 overhead dock door positions
- 213 trailer stalls (expandable to 303)
- 375 parking spaces (expandable to 561)
According to the release, over the course of the past two years, Endurance and Guardian have been acquiring all of the land development entitlements that were needed to move forward with the 93-acre, $115 million project – which PNC Bank National Association provided the construction financing for.
The Cushman & Wakefield team, which is made up of Gerry Blinebury, John Alascio, TJ Sullivan, Chuck Kohaut, Collin Potter and Chris Meloni, served as the exclusive advisor(s) to Endurance, according to the release.
“We are thrilled to close on this land acquisition and kick off speculative development with Guardian on our first project together,” said Benjamin Cohen, President of Endurance. “The Cushman team did a great job helping us navigate the ever-evolving capital markets, enabling us to capitalize our largest transaction to date for this shovel-ready site.”
In addition to being the exclusive advisor, the Cushman & Wakefield leasing team are also the exclusive listing agents for the project. This leasing team is made up of Blineberry, Adam Cambell, and Alex Wenger.
“Chambersburg Logistics Park is ideally located in the heart of the Interstate 81 industrial corridor, one of the most desired distribution locations among big-box industrial users,” said Blinebury.
The Chambersburg Logistics Park facility is located immediately off of Exit 10 on I-81, and according to the release, is expected to be completed by the fourth quarter of 2023.