A large e-commerce logistics and fulfillment company has signed a lease for a new building in the new Keystone Trade Center in Falls Township.
Advertisements
Colliers and KBC Advisors negotiated the 517,641-square-foot industrial lease for Cirro, which provides logistic and fulfillment services for international e-commerce sellers.
Financial details of the lease were not disclosed.
Cirro provides logistics and fulfillment services for international e-commerce sellers and has a physical presence in more than 30 countries, including the U.S., the European Union, the United Kingdom, and Australia.
Advertisements
“Keystone Trade Center is one of the preeminent distribution centers on the east coast,” said Jeremy Michael, of Northpoint Development, the developer and owner of the trade center. “We are happy to welcome Cirro to the campus.”
The company joins FedEx, Italian shipping and logistics company Savino Del Bene and logistics firm Jillamy in the Keystone Trade Center.
Advertisements
Northpoint Development is converting one of the buildings at the site into a 1 million-square-foot data center. The tenant for the data center has not been announced.
Michael Golarz and Tom Golarz, of Colliers, working with Mark Chubb, Mike Zerbe and Summer Coulter of KBC Advisors, represented Northpoint Development in the lease negotiations. Michael Lee and Drew Maffey with Lee and Associates represented Cirro.
NorthPoint Development, which acquired the U.S. Steel property at the end of 2020 for $160 million, has big plans for the site. The developer is working to transform the area into a major hub for e-commerce and logistics, potentially creating 5,000 to 10,000 jobs and adding up to 15 million square feet of new warehouse space, with a total projected investment of $1.5 billion.
Advertisements
As part of the development’s incentive package, the Bucks County Commissioners, Falls Township, and the Pennsbury School District agreed in 2020 to designate the site as a Keystone Opportunity Investment Zone from January 2021 through December 2035. The designation provides significant tax breaks to foster development.
Previous reporting on the project:
- Falls Twp. Supervisors Approve Nondisclosure Agreement For Data Center Project
- Officials Shed More Light On Proposed Nondisclosure Agreement Between Township & Developer
- Supervisors Approve Opportunity Improvement Zone Shift At Keystone Trade Center
- EXCLUSIVE: FedEx To Open One Million-Square-Foot Building In Falls Twp.
- 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
Advertisements
Advertisement
Convenient Legal Access to High Quality Cannabis Just A Few Minutes Away!
Canna Remedies: Educate Curate Elevate
Advertisements
Report a correction via email | Editorial standards and policies
