This represents a quadrupling of the chemical company's former 4,500-sf space in nearby Royersford, PA and takes occupancy at the Old Reading Pike facility to 70%. A locally based private real estate holding entity, 400 D/D Reading PMR Inc., acquired the property in 2001 and is currently redeveloping it for multi-tenant industrial occupancy. Approximately 137,000 sf remains available. The facility was built in 1956 and encompasses approximately 71.5 acres.
S. David Prizer, a broker with the locally based office of Coldwell Banker Commercial Diamond Realtors, represented the owner in the InnoChem negotiations. Phil Earley, a principal in Wayne, PA-based Lieberman Earley & Co., negotiated for the tenant.
InnoChem is a Netherlands-based developer of environmentally friendly chemical processes. It operates worldwide.
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