1695 State Street

Jones Lang LaSalle Americas, Inc. (“JLL”) has been retained on an exclusive basis to arrange the sale of 1695 State Street (the “Property”), a 106,078 square foot, light industrial building located in the highly sought after Central PA Market.

1695 State Street presents a truly exceptional opportunity as a flex building, boasting two convenient drive-in doors, 16-foot ceilings, and a large on-site parking lot. It has undergone recent renovations, ensuring it is primed and ready for immediate occupancy. The property’s prime location just off Route 30 and I-283 positions it as a prized asset within the Northeast industrial market, providing a rare chance for businesses to secure move-in ready flex space in a highly sought-after core location.

The size of the site at 18.0 acres presents various long-term redevelopment paths including multifamily. 1695 State Street is in the Lancaster County multi submarket, which has consistently demonstrated strong and stable fundamentals. Over the past 5 years, annual rent growth in the Lancaster County submarket has averaged 5.1%, outperforming both the Greater Philadelphia MSA and the national averages. Additionally, the market has seen a lack of new supply with only five 100+ unit developments being delivered over the last decade.

Fulton Bank, with a Moody’s rating of Baa2, has agreed to a 10-year sale-leaseback agreement for a 45,000-square-foot space at the Property. This arrangement offers investors a stable and long-term income stream. Moreover, the property presents potential value-add opportunities, as there is remaining vacancy that can be leased up, increasing the overall potential return on investment.