by John Jordan Globest.com
PSI, a pipe distribution company, has acquired a 225,000-square-foot industrial building here and will expand and relocate operations from Mountain Top, PA.
PSI purchased 827 Sans Souci Parkway from Medley Investments for $4.2 million. The company has pledged to invest more than $9 million to renovate the facility, including the addition of a pipe mill, which will allow it to develop its manufacturing operations. The capital improvement project is expected to create 50 new, full-time jobs and retain 37 existing jobs for Pennsylvanians over the next three years.
“The Wilkes-Barre industrial real estate market is thriving for both property owners and investors alike.”
The property’s proximity to to I-81 and Routes 11 and 309 is an advantage for PSI. In addition, 827 Sans Souci Parkway is a crane and rail-served heavy industrial building that will be beneficial to the growth of PSI as it further develops its manufacturing operations.
www.omegare.com
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