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ASBURY, NJ, JANUARY 5, 2010--- J.G. Petrucci Co., Inc. (JGPCO), one of the New Jersey and Pennsylvania region’s most respected development and design/build organizations, enjoyed an outstanding year in 2009 with excellent results in a number of key areas. Included were build-to-suit facilities, development and redevelopment projects, major leasing and sale transactions and the receipt of critical permits and approvals. Overall, the projects were truly diverse, reflecting a wide variety of property types such as warehouse/distribution, corporate headquarters, manufacturing, retail, hotel, branch banking and other facilities. A particular highlight of the year was JGPCO’s continued success in brownfield remediation and redevelopment.
Among JGPCO’s accomplishments in 2009 were the completion of design/build projects for a number of leading firms, such as Synchronoss Technologies, Inc. (62,000 square foot Global R&D Center and Data and Technical Operations Center ), CRP Industries, Inc. (108,000 square foot corporate headquarters and warehouse/distribution center), Myers Power Products (93,472 square foot manufacturing facility), Wakefern Corporation (35,485 square foot PriceRite Supermarket) and a 32,000 square foot office building and television studio for a major cable television company), as well as an expansion for Garden State Tile in South Brunswick, New Jersey and the renovation of a plant for ICO Polymers in Bloomsbury, New Jersey.
JGPCO was also involved in the acquisition and disposition of a number of properties during 2009. Foremost was the purchase of the 250,000 square foot former world headquarters of Mack Trucks, Inc., which was subsequently leased in its entirety on a long term basis to Lehigh Valley Hospital Network. JGPCO also acquired 2198 Industrial Drive in Bethlehem, Pennsylvania, a vacant 101,508 square foot industrial facility, which was fully renovated and repositioned. In addition, two properties were sold to occupying firms, a 100,000 square foot warehouse/distribution center in Forks Township, PA to Weyerhaeuser Company and a 52,500 square foot headquarters building to Strahman Valves.
As in the past, JGPCO also sponsored two successful fund-raising events, Crossing Borders, which raised $52,000 to benefit Displaced Homemakers of NJ and New Choices/New Options of PA and the Iron Hill Charity Golf Open, which raised $45,000 to benefit the Lehigh Valley Military Affairs Council and the New Jersey National Guard Family Foundation.
Other highlights during 2009 included groundbreaking for JGPCO’s first ever multi-family project, the 71-unit Riverview Court in Nutley, New Jersey, JGPCO being named, for the second time, by the Greater Lehigh Valley Chamber of Commerce as its Developer of the Year and a project for Team Capital Bank being honored with a SARA Award by the Pennsylvania Chapter of the Society of American Registered Architects.
Jim Petrucci, founder and president of JGPCO, stated, “Although 2009 will go down as one of the most challenging economic environments in our nation’s history, we were able to not only initiate a number of exciting projects, but position ourselves well for success in 2010 and beyond.”
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About J.G. Petrucci Co., Inc.
J.G. Petrucci Co., Inc (JGPCO) is a fully integrated, privately-held real estate organization with more than 22 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 Division of Sealed Air Corp., 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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