Woodmont Industrial Partners, a leading development and management firm, today announced that it has signed a lease renewal with Hearth & Home, the world’s leading producer and installer of hearth products, at 9747 Commerce Circle in Kutztown, Pennsylvania.
Hearth & Home, which signed a five-year lease, will expand its existing space from 138,457 square feet to 173,701 square feet – an increase of more than 35,000 square feet.
Located within the Arcadia West Industrial Park, less than half a mile away from Interstate 78, the property is a 385,000-square-foot, Class A distribution center in the heart of the Leigh Valley industrial market. The strategic location not only provides easy access to I-78, but also to I-476 and Route 22, giving tenants the logistic ability to interact with Central and Northeastern Pennsylvania as well as Central and Northern New Jersey.
“The prime location was a crucial factor in Hearth & Home’s decision to remain at 9747 Commerce Circle,” said Eric Witmondt, Principal of Woodmont Industrial Partners. “This latest lease is a testament to the growing demand for quality industrial space in the Lehigh Valley, which has become a hot spot for business activity and logistics companies.”
Woodmont Industrial Partners, in joint venture with AEW Capital Management (AEW), acquired the building in January 2013. AEW owns the property on behalf of AEW Partners VI, L.P., an opportunistic real estate fund. Built in 2007, the building is equipped with an ESFR sprinkler system, T5 lighting, 32-foot ceiling heights, 50-by-50-foot column spacing, 20 loading dock doors and 10 additional knock-out dock door panels.
