This represents an expansion for FL Smidth. Its current US headquarters is located directly across the boulevard from the new building. John Crampsie of Allentown-based Summit Management and Realty Co. represented Smidth in the negotiations. Chris Williams of Liberty represented the owner in house.
Crampsie declined to disclose the aggregate value of the agreement or the rent rate of the Smidth lease. However, he tells GlobeSt.com the asking rent range for class A office space in this area is $18 per sf, triple net. He also says that because the building had just been constructed it affords the tenant "generous flexibility in tenant improvement requirements."
Lehigh Valley Corporate Center is a 175-acre, master-planned complex that includes two miles of trails, a putting green, volleyball court and service retail. Among its more than 50 office tenants are Cigna, PNC Bank and Allstate Insurance.
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