Credit: Scott T. Sturkol
FedEx will be the first tenant of the new Keystone Trade Center in Falls Township, which is one of the largest industrial park projects in the eastern portion of the country.
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Industry sources told LevittownNow.com FedEx will occupy the 1,159,849-square-foot Building 1.
A NorthPoint Development spokesperson confirmed what sources had told this news organization.
Signage at the building is being installed, but construction remained underway as of this week, according to NorthPoint Development spokesperson Natasha Rickel.
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FedEx signed a lease for the building within the past year and has been installing equipment to fit out the massive space, sources said.
Previously, NorthPoint Development and township officials would only say the building was going to be leased by a “major transportation company.”
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“This tenant and their planned use validates Keystone Trade Center as a top-tier location for global industrial occupiers to access both the U.S. and Northeast and Mid-Atlantic markets,” said Mark Chubb, senior managing director with Colliers, who represents the project leasing team. “Securing this tenant had everything to do with the flexible partnership of NorthPoint, who was able to make site plan modifications to accommodate robust parking needs.”
“With Keystone Trade Center’s vast size and modern infrastructure, this industrial park will serve as a hub of economic activity, generating employment opportunities and contributing to the growth of the local workforce,” said Jeremy Michael, vice president of development for NorthPoint Development.
While Building 1 is being finished, construction on several other buildings is underway.
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“On behalf of Falls Township, I am delighted to see continued progress at the Keystone Trade Center,” Falls Township Board of Supervisors Chairman Jeff Dence said. “We look forward to this land once again being a hub of economic development.”
NorthPoint Development began site work in late 2021 on the 1,800-acre property purchased from U.S. Steel for $160 million in late 2020. Ground on the complex was officially broken in April.
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NorthPoint Development officials have said the project has the potential to add 5,000 to 10,000 jobs and 15 million square feet of new warehouse space with a total investment of $1.5 billion over the coming years. The company said they want to develop the “largest e-commerce, logistics, and multi-model industrial project on the East Coast” with room for as many as 20 new buildings.
The project is receiving tax breaks to help spur along development.
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The site is marked a Keystone Opportunity Investment Zone.
In 2020, all three taxing bodies for the property – the Bucks County Commissioners, Falls Township, and the Pennsbury School District – agreed to designate the site as a Keystone Opportunity Investment Zone from January 1, 2020, to December 31, 2035, providing the developer with tax breaks to encourage growth.
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Previous reporting on the project:
- First Tenant Signs For Massive Keystone Trade Center
- ‘Transformative’ Keystone Trade Center Project Holds Ceremonial Groundbreaking
- NorthPoint Development Expanding Warehouse Plan At Keystone Trade Center
- Second Phase Of Keystone Trade Center Moves Forward
- Three 1 Million-Square-Foot Buildings Proposed For Keystone Trade Center
- Keystone Trade Center Site Gets Subdivision Approval
- Municipal Authority Closes On Keystone Trade Center Property
- Construction To Get Underway By July On Massive Keystone Trade Center
- 1 Million-Square-Foot Warehouse For Keystone Trade Center Approved
- First Warehouse Proposed For Keystone Trade Center Project To Come Before Public
- Keystone Trade Center Project Allows Water Authority To Build New Treatment Plant
- Large U.S. Steel Site In Falls Twp. Sold For $160 Million
- County Commissioners Approve Tax Break For Massive Keystone Trade Center Plan
- Tax Breaks Could Help Development At Proposed Keystone Trade Center
- Keystone Trade Center Project Moves Forward
- Ground On Billion-Dollar Keystone Trade Center Could Be Broken By Spring
- Falls Twp. Holding Special Meeting On Proposed U.S. Steel Site Redevelopment
- Plans For U.S. Steel Site Show New Billion-Dollar Development, Potential For Thousands Of Jobs
- EXCLUSIVE: Large U.S. Steel Site To Be Sold To Developer
- U.S. Steel Seeking To Sell Fairless Works Site
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