They plan to invest approximately $850,000 in renovations to the existing building's 11,160 sf and to construct an 8,000-sf addition. Bethlehem Steel developed the property in conjunction with the steelworker's union to provide medical services to employees. It vacated the building about two years ago following its bankruptcy and acquisition by International Steel Group. Dunn says his firm will occupy approximately 2,250 sf, leaving more than 16,000 sf available to sell.
"We hope to have the existing property renovated within six months and begin the addition in 2006," he says. Condo prices will range from $170 per sf to $180 per sf, "depending on location within the building and the size of the space."
Amy Holly and Jarrett Laubach of Allentown-based NAI Hawley Realty Inc. represented Dunn Twiggar. John Crampsie of Summit Management and Realty Co., also based in Allentown, represented Tow Path Valley Business Park Development Co., an entity created by International Steel to dispose of all of Bethlehem Steel's real estate.
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