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Ground Breaks on $8M, 240,000-SF Spec Shell

HAZLETON, PA-Equilibrium Equities plans a spring delivery for the first space in the eastern portion of Humboldt Industrial Park.

By Marita Thomas | Updated on September 12, 2006

HAZLETON, PA-Conshohocken-based Equilibrium Equities has broken ground on a 240,000-sf distribution building on Site 102 in Humboldt Industrial Park East. The spec building will be the first for the eastern portion of the park.

“The shell building construction cost, excluding any office improvements, is about $8 million,” Adam Meinstein, Equilibrium’s president, tells GlobeSt.com. His company acquired the 19.5-acre parcel from Can Do Inc., the Hazleton-area economic development corporation, for $812,000, he says, which translates to $41,641 per acre.

As GlobeSt.com previously reported, Archer Daniels Midland plans a 500,000-sf, $95-million cocoa processing plant in an adjacent portion of the park. Coca Cola has also committed to building a plant here. Meinstein says those companies’ decisions came after Equilibrium’s. “But the fact that two first-class companies chose this area certainly increased our comfort with the location for spec development,” he adds.

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