|
ASBURY, NJ, May 9, 2008 - J.G. Petrucci Company, Inc. (“JGPCO”), one of the New Jersey and Pennsylvania region’s most respected development and design/build organizations, has completed a 35,485 square foot long term lease with PriceRite Supermarkets, a wholly-owned subsidiary of Wakefern Food Corporation. The new store, PriceRite’s seventh in Pennsylvania and second in the Lehigh Valley, is part of a 33-acre development on the site of a former Durkee Spice factory. The PriceRite store is adjacent to both a 133,841 square foot Lowe’s Home Improvement Warehouse and 204-unit garden-style apartment complex that were previously developed at the site.
“The commitment by major firms such as Wakefern Food Corporation and Lowe’s further validates Bethlehem’s status as a premier location for businesses of all kinds,” stated Tony Hanna, Director of Community and Economic Development for the City of Bethlehem, PA. He added: “Bethlehem’s skilled and diverse labor pool, well-developed infrastructure and affordable and convenient utilities, water and sewer continue to play a vital role in attracting business.”
Jim Petrucci, President and CEO of JGPCO, noted, “The Durkee redevelopment project is another example of where we have taken an obsolete and environmentally challenged facility and converted it to new uses that will have a positive long-term benefit to the local community.” He further stated, “This project, which is adjacent to the Eighth Avenue interchange of Route 378, also involved more than $2 million worth of road improvements.”
The PriceRite store will have an address of 925 Martin Court in Bethlehem. In addition to Route 378, it offers convenient access to Interstate 78, U.S. Highway 22 and Pennsylvania Routes 512 and 191.
About PriceRite
PriceRite Supermarkets is a wholly-owned subsidiary of Wakefern Food Corporation, headquartered in Keasbey, NJ. PriceRite operates 35 stores in Connecticut, Massachusetts, New York, Pennsylvania and Rhode Island. PriceRite offers customers an expanded produce department and quality national brand and private label food products at savings up to 50 percent less than traditional supermarkets. The typical PriceRite store is about 30,000 to 35,000 square feet in size and employs anywhere from 80 to 120 associates. The first PriceRite opened in West Springfield, Mass., in 1995.
About J.G. Petrucci Company, Inc.
J.G. Petrucci Co., Inc (“JGPCO”) is a privately-held real estate organization with more than 20 years experience in the design/build, development, re-development and acquisition of industrial, office, retail, multi-family and hotel properties. In addition, JGPCO is recognized as a leader in both the New Jersey and Pennsylvania markets with a client and tenant roster that includes Merrill Lynch, Weyerhaeuser Co., Federal Express, Cryovac/Sealed Air, Gargiulo Produce, Westfield Medical Center, Flemington BMW and Schuetz Containers. JGPCO presently holds an investment portfolio of over 3 million square feet of prime industrial, retail and office space. The firm is based in Asbury, New Jersey and also maintains offices in Bethlehem, Pennsylvania. For additional information about J.G. Petrucci Co., Inc., please visit our website at www.jgpetrucci.com.
Return to Press Releases
|
