Locally based JG Petrucci acquired the single-story building in a sale/leaseback agreement with Dayton, OH-based NCR in August 2003. NCR's lease expired this year. At that time, on condition of anonymity, area brokers told GlobeSt.com that JGPCO probably paid between $1.5 million and $1.6 million for the building, which includes 7,200 sf of office space.
Compuspar is a global restorer of used computer equipment and components. "When we see an opportunity to boost economic levels and more importantly, generate jobs in the (Lehigh) Valley, we're going to make it happen," says Tom Shaughnessy, director of business development for JGPCO's Bethlehem office. Jon Gelman of locally based Gelcor Realty brokered the Compuspar transaction.
JGPCO is a commercial developer/builder with a roster of design/build clients that includes Presco Foods, Midas Muffler and Federal Express among others. Its investment portfolio encompasses 2.5 million sf of office and industrial space. Among the company's current development projects are two New Jersey properties totaling 218,850 sf.
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