In addition, prior to the closing, Strober Haddonfield, a major buildingproducts distributor, inks a lease for 145,000 sf, taking the building tonearly 100% occupancy. Petrucci is currently undertaking an extensiverenovation of the facility.
Petrucci has headquarters in Bethlehem, PA and Asbury, NJ. Of the Eastontransaction, Jim Petrucci, president, calls it a "win-win situation for allparties involved. Paragon has monetized its real estate asset, StroberHaddonfield has secured a prime location for distribution in the LehighValley, and Petrucci has added a quality building to our Pennsylvaniaportfolio as well as land for future development potential."
Paragon is a specialist in materials handling and automated work-flowsolutions. Strober Haddonfield, a div. of Strober Organization Inc.,distributes lumber, millwork, roofing and other building products throughoutthe northeast.
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