Thursday, January 17, 2019

Two Lehigh Valley Commercial Land Sales Trade for Development

by Steve Lubetkin,
Two property sales recently totaling more than 35 acres traded in Bethlehem and Easton, PA.

The first transaction involved 29.5 acres of land in Bethlehem Township, PA. The team represented both the buyer, River Hills Estates, affiliated with Cahill Properties, and seller Joanne Turocy in the sale of the parcel. The land is accessible to Route 33, I-78 and Route 22 and is just minutes to St. Luke’s 500-acre Anderson Campus which features a 108-bed hospital, state-of-the-art cancer center and medical office building. The site allots multiple uses under zoning and future plans for the site have not been finalized.

The second transaction involved the last remaining 6.6 acres of raw industrial-zoned land known as Conroy Place Lot 6 in the Forks Industrial Park IV on Conroy Place and Uhler Road in Easton, PA. The buyer was Triple Net Investments LII and it sold for $625,000 sale. Triple Net will construct a build-to-suit industrial facility for a future occupant on the site.

With construction of the property, the park will be considered fully built-out. Tenants include Martin Guitar, Easton Coach, Daniels Health, Kensington Home Fashions, TorcUP Inc., Kadco Ceramics and Curries. The site is just two miles from the Charles Chrin Interchange and the adjacent Chrin Commerce Centre, an area economic driver that is home to Amazon, Mondelez, Porsche, FedEx and others.

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