LOCAL

12 central Pa. warehouses part of $12.6B deal between Prologis & Liberty Property Trust

Neil Strebig
York Daily Record

Central Pennsylvania has historically been a hotbed for industrial warehouses and interstate commerce, and now it is part of a gargantuan deal between two industrial real estate firms. 

On Sunday, Oct. 27, Prologis Inc. announced it would be acquiring Property Trust for $12.6 billion. Both companies agreed to an all-stock deal. 

"Liberty's logistics assets are highly complementary to our U.S. portfolio and this acquisition increases our holdings and growth potential in several key markets," Prologis CEO Hamid R. Moghadam said in a news release. "The strategic fit between the portfolios allows us to capture immediate cost and long-term revenue synergies." 

The San Francisco-based Prologis already owns over two dozen properties in central Pennsylvania and the Lehigh Valley. With the completion of the deal, Prologis will obtain 10 more warehouses in central Pennsylvania and two more in Hagerstown, Maryland. The deal is expected to close in the first quarter of 2020. 

The Amazon warehouse at Fairview Business Park, 5000 McCarthy Drive, Lewisberry is part of a $12.6B deal between Prologis & Liberty Property Trust.

8,630,173 square feet of warehouse space acquired in central Pa. & Maryland 

  • 7253 Grayson Road, Harrisburg
  • 7195 Grayson Road, Harrisburg
  • 40 Logistics Drive, Carlisle 
  • 100 Carolina Way, Carlisle 
  • 1485 Dennison Circle, Carlisle 
  • Fairview Business Park, 5000 McCarthy Drive, Lewisberry (Amazon warehouse)
  • 600 Industrial Drive, Lewisberry
  • 1475 Nitterhouse Drive, Chambersburg
  • 95-175 Kriner Road, Chambersburg (Ulta Beauty DC distribution center) 
  • 9300 Old Scotland Road, Shippensburg 
  • 11835 Newgate Blvd., Hagerstown, MD
  • 11841 Newgate Blvd., Hagerstown, MD 

In July, Prologis acquired Denver-based Industrial Property Trust for $3.99 billion. The deal includes six central Paennsylvania properties totaling 1,943,000 square feet.