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Warehouse complex planned

February 16, 2007|by TARA REILLY

HALFWAY - A Pennsylvania-based commercial developer plans to build a 1.8 million-square-foot warehouse distribution complex in the Hunters Green Business Center near Hagerstown.

Liberty Property Trust of Malvern, Pa., purchased 145 acres for the complex at the end of 2006, according to a written statement.

Hunters Green Business Center is off Interstate 81 in the Halfway area near Interstate 70.

Liberty Property is a real estate investment trust that builds large distribution centers and leases to other companies, Timothy R. Troxell, executive director of the Hagerstown-Washington County Economic Development Commission, said Thursday.

The developer does not yet have a tenant for the distribution center but is actively marketing the property, Troy Briggs, director of leasing and development for Liberty Property, said Thursday.

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"It certainly will generate jobs," Briggs said. "How many? You just don't know. It depends on the client."

Briggs said Liberty tries to create leases with one company but will consider leasing to two tenants.

The real estate investment trust has created two development scenarios for the property.

One scenario includes constructing one 1.8 million-square-foot building. The other scenario would consist of 1.8 million total square feet, but contain two buildings. One building would be approximately 1.12 million square feet, and the other building would be 543,000 square feet, according to a written statement.

The business park's location off Interstate 81 was an attractive selling point for the developer, Briggs said.

"It's part of our strategic plan up and down the 81 corridor," Briggs said.

The 145 acres is between FedEx Ground and the Bowman Warehouse off Hopewell Road and Halfway and Newgate Boulevards, according to a map provided by the EDC.

Liberty Property is calling the planned complex Liberty at Hunter's Green.

The real estate investment trust owns more than 65 million square feet of office and industrial space with 2,100 tenants throughout the U.S. and the United Kingdom, according to a written statement.

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