An aerial of 827 Sans Souci Parkway, Wilkes-Barre, PA
WILKES-BARRE, PA— PSI, a pipe distribution company, has acquired a 225,000-square-foot industrial building here and will expand and relocate operations from Mountain Top, PA.
Commercial brokerage firm NAI Mertz reports that PSI purchased 827 Sans Souci Parkway from Medley Investments for $4.2 million. The company has pledged to invest more than $9 million to renovate the facility, including the addition of a pipe mill, which will allow it to develop its manufacturing operations. The capital improvement project is expected to create 50 new, full-time jobs and retain 37 existing jobs for Pennsylvanians over the next three years.
The NAI Mertz team of VPs David Weaver, SIOR, and Stephen Cole, SIOR, represented Medley Investments in the transaction. PSI was represented by Elijah Miller of Hinerfeld Commercial Real Estate.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
