Dalfen Industrial has acquired 149 acres of land in Bethel, Pennsylvania.
Dalfen plans to develop three industrial buildings totaling 1,177,400 square feet on this land with an estimated completion date of Q1 2023.
The land is located in the Lehigh Valley industrial submarket directly off of I-78. This submarket is one of the most active and fastest growing submarkets in the Northeast United States with ability to easily access major population centers within a few hours’ drive, including New York City, Philadelphia, Boston, and Washington, D.C
“The Lehigh Valley submarket is a critical location for supply chains in the Northeastern United States, yet development opportunities are scarce,” said John Lettieri, Market Officer for Dalfen. “Developing three fulfilment centers in this highly demanded location will result in extensive tenant demand for prime real estate with all of the modern characteristics needed for e-commerce clients.”
“Dalfen is focused on expanding our portfolio in strategic markets in the Northeast,” says company President and Chief Investment Officer, Sean Dalfen. “Lehigh Valley has one of the strongest industrial markets in the country with a combination of multi-directional interstate connectivity, a more affordable labor base than competing Central New Jersey locations, and strategic logistics connectivity to major United States metropolitan areas.”