First Industrial Completes Development of 358,000 Square-Foot Logistics Facility Along I-95 Corridor
Newly Constructed Distribution Center in Northern Delaware Ready to Serve Customers Across the Mid-Atlantic
First Industrial Realty Trust, Inc. (NYSE: FR), a leading fully integrated owner, operator and developer of industrial real estate has completed the development of a 358,000 square-foot industrial facility at First State Crossing in Claymont, New Castle County, Delaware. Located at the intersection of Philadelphia Pike and Naamans Road, the property features a clear height of 40 feet as well as immediate access to both I-95 and I-495.
“The Northern Delaware industrial market is experiencing strong fundamentals due to its favorable business climate and efficient access to major highway systems serving the East Coast,” said John Hanlon, executive director for First Industrial. “The building’s functional design, location, unmatched access and unsurpassed trailer parking are ideal for businesses looking to serve customers in this high consumption zone.”
First State Crossing was designed with a rear-load configuration at a fully signalized intersection along Philadelphia Pike, just 12 miles south of Philadelphia International Airport. The building also features 68 dock-high door positions, 2 drive-in doors, 238 trailer stalls, 289 parking spaces, ESFR sprinklers and LED lighting.
First Industrial acquired the 28-acre site from Commercial Development Company, Inc. (CDC) in October of 2022. The site was part of a former steel mill purchased by CDC which master-planned the project to include industrial, office, retail, and residential components. A newly constructed train station across the street from the building will open this fall with SEPTA Regional Rail service connecting First State Crossing to Philadelphia and other metropolitan areas.
Construction of First State Crossing was led by First Industrial’s Jim Knopka, director of development, and Brandon Carney, construction manager, in partnership with Blue Rock as the general contractor and Joseph V. Belluccia, AIA as architect. The CBRE team of Dan Rattay and Drew Green are handling leasing for the project.
About First Industrial Realty Trust, Inc.
First Industrial Realty Trust, Inc. (NYSE: FR) is a leading U.S.-only owner, operator, developer and acquirer of logistics properties. Through our fully integrated operating and investing platform, we provide high quality facilities and industry-leading customer service to multinational corporations and regional firms that are essential for their supply chains. Our portfolio and new investments are concentrated in 15 target MSAs with an emphasis on supply-constrained, coastally oriented markets. In total, we own and have under development approximately 69.4 million square feet of industrial space as of September 30, 2023. For more information, please visit us at www.firstindustrial.com.
Contact: Art Harmon, Vice President, Investor Relations and Marketing - (312) 344-4320