The facility was sized and equipped to handle rotational molding processing, a key factor in the company's decision. Still, though, the tenant needed to make several million dollars worth of renovations to fully accommodate its manufacturing needs. These renovations include raising a section of the roof, installing some plastic silos and bringing rail siding into the facility, which is owned by Jamble Enterprises. According to marketing materials by listing agent Summit Management & Realty on the web, the asking rate for the building at been $4.3 triple net. The building has a 22-foot ceiling height, 10 docks with levelers, and two drive-in doors.
According to Zerbe the location in Pennsylvania was not a driving factor--or a hindrance--behind the decision, despite the anecdotal rush by New Jersey firms to locate in Pennsylvania these days. "Some of the employees already live on the Pennsylvania side of the river," Zerbe says, "which was convenient." But ICO talked as much about finding the right property as it did about the Pennsylvania versus New Jersey site selection issue, he adds.
In fact Zerbe thinks that the traditional pull Pennsylvania has for New Jersey based firms may be weakening as the area continues to develop. "Lehigh Valley is running out of developable land. Yes, New Jersey is still challenging to go through the development process and yes, Pennsylvania's labor efficiencies are in its favor. But I think more and more developers will be forced to look in other areas of Pennsylvania, along the I-80 Corridor."
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