J.G. Petrucci acquires six commercial properties in eastern Pennsylvania
The developer expanded its industrial and office portfolio with six properties totaling over 300,000 square feet across Hatfield, Bethlehem, Whitehall and Allentown.
J.G. Petrucci Company Inc. announced that it has acquired six new properties across Eastern Pennsylvania. The acquisitions total over 300,000 square feet,
According to a press release, Petrucci acquired 2990 Bergey Road in Hatfield, a property totaling approximately 124,792 square feet. The building includes warehouse and office space and is currently occupied by two tenants: Rodon Limited Partnership and Paul Davis Restoration. The acquisition was brokered by Jon Gelman and Frank Gonser of Gelcor Realty.
Petrucci also acquired 3935 S. Rabold Circle in Bethlehem, an 18,000-square-foot building that serves as the corporate headquarters for ArtSkills, a nationally recognized manufacturer and distributor of art and office supplies.
In another transaction, Petrucci acquired a 22,500-square-foot warehouse property at 5275 W Coplay Road in Whitehall. That building will be marketed to prospective users seeking small industrial space in the Lehigh Valley region. The transaction was facilitated by Sergei Ivasiuc of P.F. Weiss Realty.
Other acquisitions included 6500 Chapmans Road in Allentown, a three-building industrial and office property consisting of a warehouse, a standalone office building, and outdoor storage space. The site is partially occupied by Metro Fuel Injectors, Yankee Traders, and Contour Seats, with additional suites available for lease. The transaction was facilitated by Mitch Russell of JLL representing the Buyer and Brian Higgins of Marcus & Millichap representing the Seller.
1841 Vultee Street in Allentown, is a 25,320-square-foot industrial warehouse leased to Beacon Sales, a leading distributor of roofing and building materials. The transaction was facilitated by Austin Shirley of KBC Advisors.
Rounding out the acquisitions is 2801 Baglyos Circle in Bethlehem, a 54,000-square-foot manufacturing facility. The building is leased to Strahman Valves, a manufacturer of high-quality washdown and industrial valve products.
“This group of acquisitions adds a healthy mix of building sizes, tenancy, and functionality to our portfolio. That balance is important to us, and it positions us well to meet a wide range of demands,” said Joe Petrucci.