Power Packaging's Facility Trades for $40 Per SF

Michael Hines and Michael Blunt of the Allentown office of CB Richard Ellis were lead brokers on the transaction and CBRE represented both the seller and the buyer. "Power Packaging, the building's tenant for five years, has an elaborate process within the facility making it important to find a buyer sensitive to the facility's needs," says Jeff Hettinger, president of JMH. He credits the CBRE with a thorough evaluation of different potential prospects before securing New York-based Readikat.

This January, UK-based Excel Co., a global supply chain management firm, acquired Power Packaging. This facility is the current tenant's only one in the US equipped for the manufacture, packaging and distribution of hot and cold beverages. Among its customers are Kraft, Pepsi and Campbell Soup Co., and the brands produced here include Crystal Light, Tropicana and V8 Splash among others, which it distributes to customers along the East Coast. Hines notes that the building's location near Route 222 provides easy access to the nationwide highway system and also makes this area of Pennsylvania an active market for distribution facilities.