First Industrial Realty Trust Signs Full-Building Lease at 708,000-SF First Logistics Center @ I-83 in York, Pennsylvania

YORK, Pa. — July 29, 2026 — First Industrial Realty Trust has signed a long-term, full-building lease at First Logistics Center @ I-83, a 708,000-square-foot Class A logistics facility in York, Pennsylvania, the company announced. CBRE brokered the transaction on behalf of First Industrial. The tenant was not identified.

Deal Details and Property Overview

The lease covers the entirety of First Logistics Center @ I-83, situated in the Central Pennsylvania industrial corridor. The property offers direct access to Interstate 83 and connectivity to Interstates 76, 81, and 78, positioning it along a major distribution spine serving the Northeast and Mid-Atlantic regions. The facility is also proximate to freight and intermodal infrastructure, including FedEx and UPS facilities, Norfolk Southern's Harrisburg and Rutherford intermodal terminals, and Harrisburg International Airport.

Financial terms of the lease, including rent and lease duration specifics, were not disclosed. The tenant's name was also withheld, a common practice in large-format logistics transactions.

CBRE's leasing team — comprising Leah Balerno, Ryan Barros, Vincent Ranalli, Patrick Lafferty, and Bill Pellington — assisted with the transaction.

First Industrial's Commentary and Platform

"The Central Pennsylvania market continues to experience strong demand from logistics users seeking efficient access to the Northeast and Mid-Atlantic population bases and major transportation networks," said Jeff Thomas, senior regional director and market leader for First Industrial's Central Pennsylvania and Baltimore/Washington, D.C. regions. "We're excited to welcome our newest customer to First Logistics Center @ I-83 and look forward to supporting their operations at our high-quality logistics facility."

First Industrial Realty Trust, listed on the New York Stock Exchange under the ticker FR, describes itself as a U.S.-only owner, operator, developer, and acquirer of logistics properties. As of June 30, 2026, the company owned and had under development approximately 72.1 million square feet of industrial space across 15 target metropolitan statistical areas.

Central Pennsylvania as a Distribution Hub

The I-83 corridor in Central Pennsylvania has emerged as a core U.S. distribution node, offering one-day truck access to major population centers including New York City, Philadelphia, Baltimore, and Washington, D.C. The convergence of I-83, I-76, I-81, and I-78 in the region connects east-west Turnpike freight flows with north-south East Coast distribution routes. Proximity to multiple intermodal rail terminals and major parcel carrier hubs further supports multimodal logistics strategies for tenants operating in the corridor.

The full-building lease at First Logistics Center @ I-83 represents meaningful absorption of large-block industrial space in the market. Industrial fundamentals nationally have been normalizing after a demand peak in 2022, with supply and demand moving back toward balance, positive net absorption, and stabilizing rents characterizing conditions heading into the second half of 2026. Modern, well-located bulk distribution facilities with interstate and intermodal access have continued to attract tenant demand even as the broader market normalizes.

Market and Capital Markets Context

The industrial and logistics sector has remained among the more resilient commercial real estate property types in 2026, supported by e-commerce activity, supply chain reconfiguration, and occupier preference for high-specification, efficiently located space. Constrained new construction pipelines following the development cycle of prior years have reduced the risk of oversupply in prime corridors, supporting lease-up timelines for new inventory.

Commercial mortgage originations are projected to rise approximately 27% from 2025 levels, with lenders selectively expanding activity in industrial and other durable asset categories. Institutional owners with scale and balance sheet strength, such as First Industrial Realty Trust, have been positioned to fund development and lease-up through a period of elevated financing costs, with the 10-year Treasury hovering around 4.5% in mid-2026.

Sources

First Industrial Realty Trust — First Logistics Center @ I-83 Lease Announcement