Thank you for sharing!

Your article was successfully shared with the contacts you provided.

HANOVER TOWNSHIP, PA-Alexandria Moulding of Alexandria, Ontario, has signed a 10-year lease on a 224,000-sf distribution facility in the Hanover Industrial Estates near Wilkes-Barre, PA, in Hanover Township. The asking sale price of the property, which was offered for sale or lease, was $7.8 million. It is in a Keystone Opportunity Zone, which provides certain State incentives for companies locating there.

The building, developed last year by Wilkes-Barre-based Mericle Commercial Real Estate Service, beat out 75 other locations, including finalists in Scranton and Mechanicsburg, PA, according to the developer. It is Alexandria’s first distribution-based facility and the prototype for additional ones, noted Jack Biddle, Alexandria’s general manager and a native of nearby Pottsville, PA.

Although Alexandria leased the entire building, it plans a gradual phase-in, beginning in January 2003. It is expected to create 115 jobs in the area.

Jim Hilsher, VP of marketing for Mericle, and Joe McDermott of the Wayne, PA, office of Los Angeles-based CB Richard Ellis, brokered the transaction.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


GlobeSt. NET LEASE Fall 2021Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.