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BETHLEHEM, PA, JULY 8, 2009-- J.G. Petrucci Co., Inc. (“JGPCO”), one of the New Jersey and Pennsylvania region’s most respected development and design/build organizations, has completed the sale of 2801 Baglyos Circle, Bethlehem, Pennsylvania to Strahman Valves, Inc. (“Strahman”). Strahman acquired the facility from JGPCO as part of a unique lease-to-purchase program developed by JGPCO in 2006. The 52,500 sq. ft. Class A flex building is located within Lehigh Valley Industrial Park VI and serves as Strahman’s headquarters. Originally constructed on a speculative basis, JGPCO customized the facility to meet Strahman’s unique requirements.
Situated on 4.22 acres, the single-story building features 18,000 square feet of headquarters office space, as well as a warehouse and manufacturing area with 24’ to 28' clear ceiling heights, 41’ by 44’ column spacing, three loading docks and one drive-in bay. It is 100% wet sprinklered. Strahman, a worldwide leader in the manufacture of high quality wash down equipment and industrial valve products, relocated to the building from Florham Park, New Jersey, where they had had their headquarters for more than 50 years.
“We are just as pleased with the building today as when we moved in three years ago,” stated August F. Percoco, president and CEO of Strahman. “It not only looks beautiful, but has allowed us to efficiently serve the needs of our worldwide client base.” He added, “It was always our plan to acquire the building from J.G. Petrucci Co. and we felt that now was the right time to implement the lease-to-purchase feature that enabled us to accomplish that.”
Tom Shaughnessy of JGPCO stated, “Strahman was a great client to work with and we wish them continued success in this facility. It was built to meet their needs well into the future and we believe the care that went into both the design and construction will continue to serve them well in years to come.”
About Strahman Valves, Inc.
Headquartered in Bethlehem, Pennsylvania USA, Strahman Valves is a worldwide leader in the manufacture of high quality Wash Down Equipment and Industrial Valve products. Since its inception in 1921, the Company has earned a reputation for reliable products that provide superior performance, innovative solutions to complex problems and long-term reliability. Strahman has become the standard for numerous industries including the chemical, petrochemical, polymer, biotechnology, pharmaceutical, food processing, beverage, dairy, mining as well as the pulp and paper. To learn more, please visit our website at www.strahmanvalves.com
About J.G. Petrucci Co., Inc.
J.G. Petrucci Co., Inc (JGPCO) is a fully integrated, privately-held real estate organization with more than 21 years experience in the design/build, development, re-development and acquisition of industrial, office, medical, retail, multi-family and hotel properties. In addition, the company is recognized as a leader in both the New Jersey and Pennsylvania markets with a diverse client and tenant roster that includes organizations such as Merrill Lynch, Weyerhaeuser Co., FedEx, Cryovac/Sealed Air, Gargiulo Produce, BlackRock, Inc., Flemington BMW, Synchronoss Technologies, 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 the Lehigh Valley, Pennsylvania. For additional information about J.G. Petrucci Co., Inc., please visit our website at www.jgpetrucci.com.
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