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ASBURY, NJ and BETHLEHEM, PA, SEPTEMBER 25, 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 The Keith Corporation of Charlotte, NC (“TKC”) for the disposition of a 3.69-acre site at Nazareth Square on Jandy Boulevard in Lower Nazareth, Pennsylvania. TKC will develop the site for Brentwood, Tennessee-based Tractor Supply Company (“TSC”). James J. Balliet, Vice President of Legend Properties, Inc. represented TKC, while Costas Hrousis of Sperry Van Ness Imperial Realty represented JGPCO in the transaction.
Plans call for TSC to construct a new 19,097-square foot retail outlet at the site with construction expected to begin in early fall of this year. TSC, which was founded in 1938, presently operates 814 stores in 44 states supplying the lifestyle needs of recreational farmers and ranchers. The Company also serves the maintenance needs of those who enjoy the rural lifestyle, as well as tradesmen and small businesses.
In addition to TSC, other retailers on Jandy Boulevard or immediately adjacent include such well known names as Giant Foods, CVS Pharmacy, AutoZone, Wawa Inc., People First Federal Credit Union, Dunkin’ Donuts and Brown Daub Ford/Lincoln/Mercury, as well as others.
Tom Shaughnessy, a spokesperson for JGPCO, noted, “With the disposition of this 3.69-acre parcel, JGPCO now has approximately 21 acres available at the new Nazareth Square located along Jandy Boulevard and Route 248. In addition,” he stated, “JGPCO is planning a 12,000-square foot retail strip center on Jandy Boulevard, adjacent to Route 191. The 3.55-acre parcel adjoins a new 5,200-square foot Wawa convenience store with gas station.”
About Tractor Supply Company
As of June 28, 2008, Tractor Supply Company operated 814 stores in 44 states. The Company's stores are focused on supplying the lifestyle needs of recreational farmers and ranchers. The Company also serves the maintenance needs of those who enjoy the rural lifestyle, as well as tradesmen and small businesses. Stores are located in towns outlying major metropolitan markets and in rural communities. The Company offers the following comprehensive selection of merchandise: (1) equine, pet and animal products, including items necessary for their health, care, growth and containment; (2) maintenance products for agricultural and rural use; (3) hardware and tool products; (4) seasonal products, including lawn and garden power equipment; (5) truck and towing products; and (6) work/recreational clothing and footwear for the entire family.
About The Keith Corporation
The Keith Corporation is a full-service commercial real estate firm offering a wealth of expertise in all aspects of real estate services, including development/build-to-suit, management services and brokerage services. Since 1989, TKC has developed more than 100 retail, office and industrial projects in every region of the United States, in Canada and the United Kingdom which are valued at over One Billion Dollars.
About Sperry Van Ness Imperial Realty
Founded in 1987, Sperry Van Ness is one of the largest and fastest-growing commercial real estate brokerage firms in the industry, with more than 990 advisors in over 150 locations. Sperry Van Ness delivers results for clients through a proven business model that immediately markets every one of its clients’ properties to the entire brokerage community as well as its own investor data base. Based in Irvine, Calif., the firm operates internationally and provides brokerage, consultation, asset management, property management, leasing, accelerated marketing, and auction services. Sperry Van Ness represents clients in billions of dollars annually in office, multifamily, retail, industrial, self-storage, hospitality and land transactions. For more information, please visit www.svn.com.
About Legend Properties, Inc.
Legend Properties Inc. is a full service commercial real estate firm with 6 offices covering the tri-state of Pennsylvania, New Jersey, Delaware and Florida. We staff over 35 full time agents and this year we are celebrating 18 years in business. Legend Properties has set the standard for retail commercial real estate. Legend Properties, Inc.’s Allentown-Lehigh Valley, PA office is located at 1621 North Cedar Crest Boulevard, Allentown, PA 18104. For more information please contact us or visit online at www.lpre.com.
About J.G. Petrucci Company, Inc.
J.G. Petrucci Co., Inc (“JGPCO”) is a fully integrated, privately-held real estate organization with more than 20 years experience in the design/build, development, redevelopment and acquisition of industrial, office, retail, healthcare, multi-family and hotel properties. In addition, the company is recognized as a leader in both the New Jersey and Pennsylvania markets with a client and tenant roster that includes such diverse organizations as 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.
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