Dalfen Industrial acquired 149 acres of land in Bethel, Pennsylvania. Dalfen plans to develop three industrial buildings totalling 1,177,400 square feet on this land, with estimated completion in the first quarter of 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 the ability to easily access major population centers within a few hours’ drive, including New York City, Philadelphia, Boston, and Washington, D.C.
John Lettieri, Market Officer, Dalfen, said: “The Lehigh Valley submarket is a critical location for supply chains in the Northeastern United States, yet development opportunities are scarce. 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.”
Sean Dalfen, President and Chief Investment Officer, Dalfen, said: “Dalfen focuses on expanding its portfolio in strategic markets in the Northeast. Lehigh Valley has one of the strongest industrial markets in the country with a combination of multi-directional interstate connectivity, a more affordable labour base than competing Central New Jersey locations, and strategic logistics connectivity to major United States metropolitan areas.”
