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PHILADELPHIA-Denholtz Associates has bought two office/flex buildings in LehighValley, reflecting its focus on “value-added facilities” with strong “upside potential.”One facility, located at 7036 Snowdrift Rd., is a 96,235-sf office/warehouse building in the Iron Run Business Campus in Fogelsville, PA.

The building has access to I-78 and is 100% leased to Asea Brown Boveri, Inc., Packaging Corporation of America and Tri-Dim Filter Corp.

The second facility, located at 969 Postal Rd., is a 64,800-sf office/warehouse building that is part of Lehigh Valley Industrial Park III in Allentown, PA. The facility is next to Lehigh Valley International Airport near the intersection of Airport Road andRoute 22, the region¹s major east-west highway.

The facility is 100% leased to Harvey Industries, Federal Express Corp., Drake Bakeries, Inc. and PECO Adelphia Communications.

Purchases prices were not disclosed.

Kristine Burnitis, vice president leasing, and Charlene LeMoine, property manager, will handle leasing and property management for Denholtz. Jon Mikula, senior director of Holliday Fenoglio Fowler, provided financing for the transactions. Zimmel Associates represented Denholtz Associates and Gelcor GVA Worldwide represented the seller, The Green Fund Realty Partnership, which is associated with J.G. Petrucci Co.

Rahway, NJ-based Denholtz Associates is a privately-held development, investment and management company active in office, industrial, flex and retail real estate, and owns and manages a portfolio of more than 8 million sf.

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