A billion-greenback genuine estate keeping enterprise has purchased the new warehouse and assets near Hagerstown Regional Airport and Interstate 81.
Preylock Holdings, performing via an affiliate, paid out $129,750,000 for the creating and residence at 13905 Crayton Blvd., according to on line deed data. A signal in front of the setting up identifies the composition as an Amazon warehouse.
The deed information checklist Preylock Hagerstown LLC as the customer. That company’s handle is the same as the deal with for Preylock Holdings, which has its headquarters in Los Angeles.
Preylock, in accordance to its web site, is a serious estate acquisition and administration corporation with extra than $2 billion of property below administration.
Preylock’s web-site states that its “current strategy is made up of attaining and running very well-positioned and operating attributes (offering security) and where there are also possibilities for improvement (to produce worth). We endeavor to obtain substantial quality industrial assets, at a discounted to alternative price, that crank out stabilized funds flows with significant draw back defense.”
The company’s on-line portfolio lists a range of qualities, which include a distribution centre in Las Vegas that is 100% leased to Amazon and an workplace making in Mountain Check out, Calif., that is 100% leased to Google.
Makes an attempt to receive opinions from Preylock ended up not immediately returned Thursday.
The warehouse was developed by the Trammell Crow Co., which is primarily based in Dallas. The seller is outlined as DRI/TCC Vista LLC on the deed data. The deed transfer day is detailed as Oct. 20.
The making is described as a mega warehouse with an “over-quality dwelling spot” of 1,190,700 square feet on 83.26 acres. The assets is south of Hagerstown Regional Airport, concerning I-81 and Pennsylvania Avenue (U.S. 11).
A creating allow software on file with Washington County officials shows a prepare to outfit about 333,000 square feet of the making “to involve (a) chilled/frozen storage place,” a lounge for truck drivers, an administrative office environment and other operate.
One more permit application specifics ideas for 3,807 bays of warehouse racking in the ambient temperature storage area and 2,438 bays of racking in the chilled/frozen storage spot. The latter allow lists the tenant as an Amazon distribution middle.
Perini Industrial Land LLC bought the assets to Trammell Crow for $7.827 million in October 2018.
Paul Perini, owner of Perini Industrial Land, explained Thursday that he was “really satisfied” to be a section of the progress in that space.
“Element of the offer with Trammell Crow was they experienced to create roads via the Vista Organization Park, which have now been finished,” he explained.
Amazon has formerly unveiled programs for another facility in the place.
On Oct. 20, Amazon declared that it would occupy a 1-million-square-foot warehouse making going up off Wesel Boulevard. The on line retailer programs to open up a new, point out-of-the-artwork success middle in the Hagerstown Logistics Center, portion of the NorthPoint Enhancement.
Amazon also leases a compact facility on Industrial Lane off Governor Lane Boulevard close to Williamsport.