Two prominent commercial sites previously operated by
Lehigh Portland Cement are up for redevelopment.
Jaindl Land Co. of Orefield acquired two properties for
$8.4 million and is looking to transform both sites into viable assets.
Developer David Jaindl said he acquired the properties
from Lehigh Hanson, the successor of Lehigh Portland Cement.
One property is at 7660 Imperial Way, a
124,408-square-foot office building in the Iron Run Corporate Center near
Interstate 78 and Route 100 in Upper Macungie Township. The other is a vacant
property at 1900 Sullivan Trail in Forks Township, which formerly served as the
headquarters of General Crushed Stone. The 22,000-square-foot structure
requires total removal or renovation, Jaindl said.
Jaindl said he sees strong interest in office tenants
looking to locate near the I-78 interchange.
“We like the Upper Macungie Township community as we have
many successful projects in the township area,” Jaindl said.
His company is building a Lehigh Valley Health Network
medical office building north on Route 100 from the new Jaindl 7660 building.
“These recent purchases and construction projects make a
lot of sense as we have an appetite for income producing properties and feel
the office market is strengthening in the Valley, particularly on the west
side,” Jaindl said.
Tom and Debby Skeans of Sperry Van Ness/Imperial Realty
in Hanover Township, Lehigh County, represented both the buyer and seller in
the transaction.
With the transaction, the Imperial Way property will also
get a new moniker. SVN Imperial will be representing Jaindl in leasing the
“Jaindl 7660” building, the new name for the Iron Run office building and
providing property management services.
Lehigh Hanson, the anchor corporate tenant, will lease
back 55 percent of the 7660 Imperial Way building and the lease will extend for
10 years. Jaindl plans to upgrade the building, which covers a little more than
10 acres, and reposition it as a Class-A multi-tenant office building. He said
14,000 square feet of office space is available on the first floor and 30,000
square feet on the top floor. Planned exterior and interior improvements
include new entry and lobby, interiors and glass wall entries to some suites.
Clear Channel Airports recently announced plans to move
its company headquarters this year to an office building nearby and the Iron
Run Park includes ADP, Hartford Insurance and other national tenants.
SVN Imperial will also represent Jaindl in the sale of
1900 Sullivan Trail as a redevelopment opportunity.
The property in Forks Township, near Easton is comprised
of more than five acres of commercial land in Northampton County.
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