Press Releases

EQUUS BREAKS GROUND ON 1.1 MILLION SF CLASS-A INDUSTRIAL FACILITY IN SHIPPENSBURG, PA

<html xmlns="http://www.w3.org/1999/xhtml"> <head></head> <body> <p><img src="/media/c59d21cd-eb61-4352-b83c-cef72b70d810/Press Releases/2018_8-13_I-81 Groundbreaking_8-13-2018/I-81 Commerce Park_jpg" /></p> <p>The joint venture between Equus Capital Partners, Ltd. (“Equus”), and its investment partner, a foreign-based capital provider, announced today both the closing of a construction loan with CIBC Bank US (“CIBC”), and the commencement of construction on I-81 Commerce Park, a class-A 1,100,500 square-foot cross-docked distribution, fulfillment and e-commerce industrial facility located in Shippensburg, PA.</p> <p>Ryan Ade of Holliday Fenoglio Fowler, L.P. (“HFF”), one of the largest commercial real estate capital intermediaries serving the United States and Western Europe, represented Equus as their mortgage placement agent.</p> <p>The construction contract has been awarded to Irwin and Leighton Commercial Builders, headquartered in King of Prussia, PA. Construction will be completed in July, 2019.</p> <p>I-81 Commerce Park will offer concrete tilt-up wall panels, 36’ clear heights, 200 loading docks, and is situated on a 100-acre site with the capacity to accommodate 200 additional truck trailer parking spaces. The speculative industrial park is strategically situated along Interstate 81 (“I-81”), with immediate access at Exit 29 and Route 174 (Walnut Bottom Road). It is located within Cumberland County just 40 miles south of Harrisburg, PA, and 15 miles south of Exit 44 in Carlisle, PA.</p> <p>&#160;I-81’s Southern Corridor from Harrisburg to Greencastle has become one of the nation’s most prominent distribution locations due to its proximity to major metropolitan areas throughout the East Coast and Midwest. The corridor is currently home to various Fortune 500 and global logistics companies such as Georgia Pacific (also located at Exit 29 of I-81), The Home Depot, Syncreon, and Geodis. According to CBRE, Cumberland and nearby Franklin County, combined, contain more than 75 million square feet of industrial space with a vacancy rate of just 6%.</p> <p>“The I-81 market from Exit 3 in Greencastle to the south up to Exit 44 in Carlisle to the north is seeing very strong user activity,” said Dan DiLella, Jr., Senior Vice President at Equus and Director of industrial land development efforts for BPG Development Company, L.P., Equus’ development operating arm, “Certainty of delivery and speed to market are key elements that users are looking for. Having speculative space available is crucial to being able to meet the needs of large users in this region.”</p> <p>Equus has been actively developing industrial buildings along I-81 over the last 10 years for major companies including McKesson, Fiat Chrysler, Home Depot, Rubbermaid and Procter &amp; Gamble.</p> <p><strong>About Equus Capital Partners, Ltd.</strong><br /> Equus Capital Partners is one of the nation’s leading private equity real estate fund managers.&#160; Equus’ diversified portfolio consists of office, multi-family, industrial, and retail properties located throughout the United States. The firm is headquartered in the Philadelphia area with regional offices in Chicago, Los Angeles, Washington D.C., Atlanta, and Raleigh-Durham. For additional information, please visit the company’s website at <u><a href="http://www.equuspartners.com/">www.equuspartners.com</a></u>.</p> <p><strong>For additional information about the company, please contact:</strong><br /> Joseph G. Nahas, Jr., CRE, Senior Vice President<br /> (215) 575-2363 or visit <u><a href="http://www.equuspartners.com/"><u>www.equuspartners.com</u></a></u></p> <p><strong>For additional information on the transaction, please contact: <br /> </strong> Daniel M. DiLella, Jr., Senior Vice President<br /> (215) 575-2352 or <u>dmdilella@equuspartners.com</u></p> </body> </html>