A drone shot of the Genpak site. (Courtesy Holladay Properties)
A half-million-square-foot deal is marking the beginning of the end of development for a decades-long project in Hanover.
Work recently began on a new 552,000-square-foot warehouse at 11517 Lakeridge Parkway in Winding Brook, the Bass Pro Shop-anchored mixed-use project along Interstate 95 from Holladay Properties.
The bulk of the warehouse will be occupied by Genpak, a food packaging firm owned by The Jim Pattison Group, a Canadian conglomerate. The group purchased the warehouse’s 43 acres from Holladay in December for $7.6 million, county records show.
And with that deal and other new buildings underway, Winding Brook is now entering the home stretch, said Evan Paner, Holladay’s local vice president of development. Only 13 of Winding Brook’s 185 acres remain undeveloped.
“It’s been a long time coming. We’ve had to deal with some headwinds but it definitely feels good now,” Paner said. “The energy in this area is so different from when I started in late 2018.”
Winding Brook has been in the works since 2006, when Indiana-based Holladay began acquiring land along Interstate 95 between the Lewistown and Sliding Hill Road interchanges. Bass Pro was one of the first structures to be built there, followed over the years by multiple hotels, Green Top Shooting Range and a handful of restaurants.
A rendering of the planned 550,000-square-foot warehouse, with Bass Pro Shops in the foreground. (Courtesy Holladay Properties)
Genpak’s warehouse will rise across the street from a 122-room WoodSpring Suites extended stay hotel that’s nearing completion at 11530 Lakeridge Parkway, and just south of a Hobby Lobby that’s being built at 11684 Lakeridge Parkway.
Paner said most of the foundation for Genpak’s Winding Brook warehouse has been poured and the building is scheduled to be completed in early 2024. Genpak is marketing the remaining 150,000 square feet of space with CBRE’s Jason Hetherington.
JLL’s Charlie Polk and Jake Servinsky represented Holladay in the deal with the Pattison Group, which owns 20 subsidiaries including Guinness World Records, trucking firm Peterbilt Pacific, Ripley Entertainment, and the Canadian franchise rights for indoor waterpark chain Great Wolf Lodge.
Despite selling the land to Pattison, Holladay will continue as the developer of the Genpak warehouse, with Whiting-Turner the general contractor. Paner said it was somewhat unusual for Holladay to sell the land to a user but still develop it for them.
“We haven’t structured a deal like this locally,” he said. “(Genpak) chose our site because of the timing. We’d been on our way to doing a spec warehouse there, and they approached us last summer looking to buy. It was a way for us to stay in the deal and get what we want out of it, but also get them what they wanted.”
A 122-room WoodSpring Suites hotel is taking shape near the Bass Pro Shops in Hanover. (Mike Platania photo)
Over the years Holladay has sold off pieces of Winding Brook after buildings were completed, including the Bass Pro, shooting range, Bojangles and Dunkin’ buildings. It still owns pieces of the development including the Hobby Lobby, WoodSpring Suites, Fairfield Inn & Suites and Starbucks sites.
As for the last sliver of undeveloped land, Paner said its future is still up in the air.
“We’ve got nothing on paper for the last 13 acres,” he said. “Before COVID we had a larger shopping center planned, but that changed.”
A drone shot of the Genpak site. (Courtesy Holladay Properties)
A half-million-square-foot deal is marking the beginning of the end of development for a decades-long project in Hanover.
Work recently began on a new 552,000-square-foot warehouse at 11517 Lakeridge Parkway in Winding Brook, the Bass Pro Shop-anchored mixed-use project along Interstate 95 from Holladay Properties.
The bulk of the warehouse will be occupied by Genpak, a food packaging firm owned by The Jim Pattison Group, a Canadian conglomerate. The group purchased the warehouse’s 43 acres from Holladay in December for $7.6 million, county records show.
And with that deal and other new buildings underway, Winding Brook is now entering the home stretch, said Evan Paner, Holladay’s local vice president of development. Only 13 of Winding Brook’s 185 acres remain undeveloped.
“It’s been a long time coming. We’ve had to deal with some headwinds but it definitely feels good now,” Paner said. “The energy in this area is so different from when I started in late 2018.”
Winding Brook has been in the works since 2006, when Indiana-based Holladay began acquiring land along Interstate 95 between the Lewistown and Sliding Hill Road interchanges. Bass Pro was one of the first structures to be built there, followed over the years by multiple hotels, Green Top Shooting Range and a handful of restaurants.
A rendering of the planned 550,000-square-foot warehouse, with Bass Pro Shops in the foreground. (Courtesy Holladay Properties)
Genpak’s warehouse will rise across the street from a 122-room WoodSpring Suites extended stay hotel that’s nearing completion at 11530 Lakeridge Parkway, and just south of a Hobby Lobby that’s being built at 11684 Lakeridge Parkway.
Paner said most of the foundation for Genpak’s Winding Brook warehouse has been poured and the building is scheduled to be completed in early 2024. Genpak is marketing the remaining 150,000 square feet of space with CBRE’s Jason Hetherington.
JLL’s Charlie Polk and Jake Servinsky represented Holladay in the deal with the Pattison Group, which owns 20 subsidiaries including Guinness World Records, trucking firm Peterbilt Pacific, Ripley Entertainment, and the Canadian franchise rights for indoor waterpark chain Great Wolf Lodge.
Despite selling the land to Pattison, Holladay will continue as the developer of the Genpak warehouse, with Whiting-Turner the general contractor. Paner said it was somewhat unusual for Holladay to sell the land to a user but still develop it for them.
“We haven’t structured a deal like this locally,” he said. “(Genpak) chose our site because of the timing. We’d been on our way to doing a spec warehouse there, and they approached us last summer looking to buy. It was a way for us to stay in the deal and get what we want out of it, but also get them what they wanted.”
A 122-room WoodSpring Suites hotel is taking shape near the Bass Pro Shops in Hanover. (Mike Platania photo)
Over the years Holladay has sold off pieces of Winding Brook after buildings were completed, including the Bass Pro, shooting range, Bojangles and Dunkin’ buildings. It still owns pieces of the development including the Hobby Lobby, WoodSpring Suites, Fairfield Inn & Suites and Starbucks sites.
As for the last sliver of undeveloped land, Paner said its future is still up in the air.
“We’ve got nothing on paper for the last 13 acres,” he said. “Before COVID we had a larger shopping center planned, but that changed.”
Congrats to Evan Paner for all this success. I haven’t heard that name in years but it appears he’s been very busy. Pattinson has hired a good man to fill their excess space in Jason Hetherington.
It was a pleasure to be able to represent The Jim Pattison Group as well as work with Holladay and their team. I do need to give credit to Brad Lowry in my office who as instrumental in every step of our work on behalf with Genpak and The Jim Pattison Group.
Congrats Evan! This site/project has had a lot of roadblocks. Good work seeing it to the end.