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Herring Properties Builds High-Tech Warehouse in Bristol, Pennsylvania

02/13/2018
Herring Properties is building a high-tech new 80,000 SF warehouse at 2151 Green Lane, part of the 81-acre Bristol, Pennsylvania. The new facility, to be completed this spring, will be the fourth building at Bristol Commerce Center.

According to company officials, with 30-foot clear height and ESFR sprinkler, the modern building is divisible for up to three tenants. Herring already has plans underway to break ground later this year on another free-standing building on a 250,000 SF pad within its fast-growing BCC campus.

Located strategically at the crossroads of the Pennsylvania Turnpike, the New Jersey Turnpike, I-95 and Route 1, 2151 Green Lane is the only new building on the market in Bucks County for companies seeking new light manufacturing, distribution and warehouse space. Owned by a partnership run by Herring Properties, the BCC campus is one of only a few in Bucks County to receive official KOEZ designation from the State of Pennsylvania.

“We are excited to move forward with this modern and flexible warehouse on our well-situated campus,” said Jamie Herring, Bristol Commerce Center’s Owner/Developer. “The KOEZ designation, and the accessibility of Bristol Commerce Center yards from the PA Turnpike (I- 276), makes our expanding site a uniquely appealing option for tenants.”

This property was formerly a 400,000 square foot factory owned by 3M. Herring Properties acquired it in 2002 and redeveloped it as a multi-tenant commerce park. Four additional lots were subdivided and an additional 640,000 square feet of industrial space was approved. The property has maintained 100% occupancy of existing buildings from shortly after completion. Colliers International’s Andrew McGhee is the exclusive leasing agent for Bristol Commerce Center.

Prospective tenants will join Airgas Safety, Goodyear Tire Company, Pet Valu, XPO Logistics, DS Waters and Turtle and Hughes in taking advantage of the site’s Keystone Opportunity Expansion Zone (KOEZ) designation, company officials said.

Keystone Opportunity Expansion Zones (KOEZ) are geographic areas that are virtually free of state and local taxes, providing businesses with one of the most powerful market-based incentives eliminating taxes. These include up to 100% abatement of state taxes such as corporate next income tax, personal income tax and sales and use tax and local taxes such as sales tax, and property tax. A KOEZ is also given priority for various state and local community-building assistance programs. The designation will run through 2022.

In addition to the KOEZ tax benefits, strategic location, and flexible uses, the park is equipped with data center power capacity making it ideal for data center users who require power, connectivity and location. Moreover, permits and approvals and pads are in place for all the proposed buildings, cutting about one year off the project time.

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