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ASBURY, NJ, MAY 10, 2010---- J.G. Petrucci Co., Inc. (JGPCO), one of the region’s most respected development and design/build organizations, has acquired a 17.1-acre parcel at Bethlehem Commerce Center at Lehigh Valley Industrial Park (LVIP) VII in Bethlehem, Pennsylvania. The site is located within the 250-acre Saucon Tract, which makes up Phase One of the 1,000 acre park. Lehigh Valley Industrial Park VII will eventually encompass the entire site formerly occupied by Bethlehem Steel, making it one of the largest brownfield redevelopment projects in the U.S.
Tom Shaughnessy of JGPCO’s Bethlehem, Pennsylvania office stated that “Lehigh Valley Industrial Park VII is unique in that it offers an unusual array of business incentives, including a location that is inside the Lehigh Valley Foreign Trade Zone. FTZ benefits may include tax advantages for eligible firms such as duty deferral, duty reduction or elimination and many others.” He added, “Additional incentive programs at LVIP VII include Local Economic Revitalization Tax Assistance (LERTA) and Keystone Innovation Zone status.”
Other advantages for firms locating at LVIP VII include high visibility, available rail service, easy access to Interstate 78, Route 33, Route 22 and downtown Bethlehem, as well as available public transportation. In addition, all utilities are in place, including roads, electric, gas, water and fiber-optic cable.
Prior to this acquisition, JGPCO had designed and built three distinctive facilities at LVIP VII. Among these were projects for Receivable Management Services (RMS), 80,000 square feet, Synchronoss Technologies, 62,000 square feet and Cigars International, 113,540 square feet. JGPCO is also marketing a 9.4-acre site within the park that is capable of supporting roughly 150,000 square feet of new development. Overall, JGPCO has completed more projects within the LVIP system than any other firm.
About J.G. Petrucci Co., Inc.
J.G. Petrucci Co., Inc (“JGPCO”) is a fully integrated, privately-held commercial real estate organization with more than 22 years experience in the design/build, development, re-development and acquisition of industrial, office, healthcare, retail, multi-family and other properties. The company’s portfolio also comprises a broad range of brownfield and adaptive reuse projects, as well as expertise in green building. In addition, JGPCO is recognized as a leader in both the New Jersey and Pennsylvania markets with a client and tenant roster that includes organizations such as Merrill Lynch, Weyerhaeuser Co., Federal Express, Cryovac/Sealed Air, Gargiulo Produce, St. Luke’s Hospital & Health Network, Flemington BMW and Synchronoss Technologies, among others. 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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