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ASBURY, NJ, August 18, 2008 – J.G. Petrucci Company, Inc. (“JGPCO”), one of the New Jersey and Pennsylvania region’s most respected development and design/build organizations, has reached an agreement with Henningsen Cold Storage Co. (“Henningsen”) for the Oregon-based firm to purchase a 31.26-acre, rail-served site within the Forks Business Center in Forks Township (Easton), Pennsylvania. Henningsen joins Weyerhaeuser Co. as the first occupants in the 124-acre development.
Plans call for Henningsen to construct a new 466,000-square foot cold storage facility at the Forks Business Center site. The company, which was founded in 1923, presently owns more than 42 million cubic feet of frozen and refrigerated warehousing space in six states. Atlanta, Georgia-based The Walker Companies represented Henningsen in the transaction. JGPCO was represented in-house.
Sixteen lots remain available in the park for either a build-to-suit or sale. Greg Rogerson, a principal at JGPCO, noted “Forks Business Center provides a perfect location for manufacturing and warehouse uses.” He added, “Companies such as Binney & Smith, Fort James Corp., Strober-Haddonfield and Tioga Pipe Supply have found Forks Township to be an ideal location to grow their businesses.”
Forks Business Center, which is zoned General Industrial, is bounded by Uhler, Glover and Kesslersville Roads and is easily accessible via Route 33, U.S. Highway 22 and Interstate 78. JGPCO is currently performing a broad scope of work at Forks Business Center which includes the construction of Braden Boulevard (completion scheduled for October 2008) and improvements to Uhler Road, which are to begin shortly. These projects reflect total infrastructure improvements valued at more than $5 million.
JGPCO has long had a presence in Forks Township which has been experiencing explosive growth in recent years. Since 1998, JGPCO has developed over 180 acres of land in Forks Township representing more than 500,000 square feet of light manufacturing and warehouse/distribution space. In turn, these new projects have brought an estimated $250,000 per year in tax revenue to Forks Township.
About Henningsen Cold Storage Co.
Henningsen Cold Storage Co. is a full service, public refrigerated warehousing company offering over 42 million cubic feet of frozen and refrigerated warehousing space, with locations in Idaho, North Dakota, Oklahoma, Oregon, Pennsylvania and Washington. Henningsen is an industry leader in providing high quality cold storage space and services to our customers. We offer a wide variety of warehousing and logistics services including freezer, cooler and dry storage, blast and room freezing, specialized product handling, cross docking, transloading, import/export services, shipment consolidation, load pooling, and physical distribution. For further information on Henningsen Cold Storage Co., please visit our website at www.henningsen.com.
About The Walker Companies
Walker, based in Atlanta, Georgia, advises major corporations seeking new distribution centers or manufacturing plants nationwide. The firm’s services include location analysis, site selection, incentive and real estate negotiations, and turnkey development services. The Walker Way assures companies the most thorough location analysis, the most favorable real estate acquisition terms, the most productive incentive negotiations, and the most innovative building design and construction solutions. Additional information about Walker may be found on our website, www.walkerco.com.
About J.G. Petrucci Co., Inc.
J.G. Petrucci Co., Inc (“JGPCO”) is a privately-held developer/builder with nearly 21 years experience in the design/build, development, re-development and acquisition of commercial, educational, healthcare and other 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, among others. JGPCO presently holds an investment portfolio of over three (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 on J.G. Petrucci Co., Inc., please visit our website at www.jgpetrucci.com.
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