DHL Mail Facility in Allentown Sells for $63 Million

Real estate brokerage firm Grubb & Ellis reports that United Bank of Switzerland has purchased a 292,333 square foot DHL mail sorting facility on 72 acres in Upper Macungie Township from developer Opus East. The sale price of $63.1 million or $217 per square foot was thought to be a record price for an industrial building transaction in the Lehigh Valley.

The property at 910 Nestle Way was designed and built by Opus East for the logistics company owned by Germany's Deutsche Post. The shell building was completed in December as part of a 20-year lease that called for DHL to install more than $72 million in advanced letter- and package-sorting systems. That would create a $107 million facility capable of processing correspondence and packages destined for the Washington, D.C., to Boston corridor.

Opus East began construction of the building in early June 2005 and by mid-September had transferred control of the interior to DHL. The building has nearly 300,000 square feet of floor area and 12,000 square feet of office space and 178 tailgate loading doors. Sphere: Related Content