"Record-high prices and limited availability in Lehigh Valley's industrial markets have continued to drive strong demand for industrial space," says Kristine B. Hurlbut, SVP of leasing at Denholtz Properties. "Through offering well-located and adaptable multi-tenant flex spaces like 7036 Snowdrift Road and 969 Postal Road in Allentown, we provide companies with spaces tailored to their needs and help them run their businesses more efficiently in this competitive market."

Denholtz Properties, which has a portfolio of office, industrial and retail space in New Jersey, Pennsylvania and Florida, also announced the sale of a parcel of land adjacent to its 1000 N. Ashley Avenue office building in Downtown Tampa to Mill Creek of Boca Raton, FL. The sale will pave the way for Mill Creek to construct Modera Tampa, a luxury mixed-use apartment community in the heart of Tampa's emerging River Arts District.

No financial terms of the transaction were disclosed.

Situated at the intersection of North Ashley Drive and West Tyler Street, Modera Tampa will be steps away from the Straz Center for the Performing Arts, the Tampa Riverwalk, Curtis Hixon Waterfront Park, museums and several vibrant dining, shopping and entertainment options within Downtown Tampa.

Targeted for completion in the fall of 2021, the eight-story Modera Tampa will feature 353 apartment homes and approximately 13,000 square feet of ground-floor retail space. Modera Tampa will offer studio, one-, two- and three-bedroom apartment homes with a rooftop deck with outdoor dining areas, a 24-hour fitness center with a full suite of fitness programming, a pet spa lounge, barbecue grills and fire pits, workspace and a resident clubroom with entertainment and lounge areas.

"Situated near the top of every list of the nation's hottest real estate markets, Tampa has become the place to be for real estate developers, investors, businesses, and residents alike," says Steven Denholtz, CEO of Denholtz Properties. "As the owners of one of the city's premier office buildings, we welcome Mill Creek to Downtown Tampa. We look forward to watching their team leverage their decades of residential development experience to create a unique and amenity-filled space that will help further reinforce downtown Tampa's position as one of nation's most desirable locations."

Modera Tampa will be located next door to The Times Building, Denholtz Properties' 10-story, 180,000-square-foot office building. Denholtz Properties recently completed a year-long $1.5 million renovation project at the building that included a complete lobby renovation, new restrooms, the addition of a new fitness center and a café operated by Inside the Box Catering.