MATRIX DEVELOPMENT GROUP ANNOUNCES 1 MILLION-PLUS SQUARE FOOT LEASE EXTENSION AT 1200 SOUTH ANTRIM WAY IN GREENCASTLE, PA
GREENCASTLE, PA (April 16, 2008) – Matrix Development Group, one of the Northeast’s most respected real estate investment and development companies, today announced a 1,033,470 square foot lease extension for World Kitchen, LLC. The extension is for the existing 1,033,470 square foot warehouse and industrial building at Matrix Business Park at 1200 South Antrim Way in Greencastle, which is occupied solely by World Kitchen.
Matrix is also marketing available “build to suit” sites at the 134-acre property, which can accommodate two additional industrial buildings of 400,000 square feet and 600,000 square feet, bringing the business park’s capacity to over 2 million square feet.
World Kitchen and its affiliates manufacture and market bakeware, dinnerware, kitchen and household tools, rangetop cookware and cutlery products sold under many nationally recognized brands including CorningWare, Pyrex and Corelle. World Kitchen employs approximately 2,900 people, and has major manufacturing and distribution operations in the United States, Canada, and Asia-Pacific regions.
“The Pennsylvania industrial market exceeds 20 million square feet of industrial space and is growing because leading national companies like World Kitchen recognize the value of being close to the Philadelphia, Baltimore and Washington, D.C. markets,” said Matrix Vice President of Asset Management Patrick Connelly. “This lease renewal builds on our track record of offering well-located properties throughout the New Jersey, Pennsylvania and New York region to solid companies like World Kitchen.”
The Greencastle location continues to provide a dynamic distribution hub that also includes Home Depot, Target and Whirlpool, just to name a few. The lease was brokered by John Van Buskirk of NAI/Commercial Industrial Realty Company of PA. Matrix was represented by Connelly.
The facility is one mile from Interstate 81 and the Greencastle interchange, making it easily accessible to the Ports of Baltimore and Philadelphia and is approximately two hours from the Washington, DC market. Matrix will be making upgrades to the facility for World Kitchen, including increasing the number of trailer spaces by more than 50 percent. The building has clear ceiling heights of between 24 feet and 30 feet.
About Matrix Development Group
Matrix Development Group is a privately held, full-service real estate investment and development company with offices in New Jersey and Pennsylvania. The Company is active in the commercial, industrial, urban, residential, golf and hospitality markets throughout the Northeast and mid-Atlantic regions. Since its founding in 1979, the Company has developed real estate valued in excess of $1 billion and has been recognized for its leadership by numerous charitable, community and real estate organizations.
For more information on Matrix Development Group, please contact the Company’s Cranbury, New Jersey office at (732) 521-2900 or visit www.matrixcompanies.com.