The seller and previous occupant is locally based Air Products,a global supplier of specialty gasses and related materials andchemicals to the technology, energy, healthcare and industrialmarkets. It operates in 30 countries and has annual revenues of$6.3 billion. Jon Gelman of Bethlehem, PA-based Gelcor brokered thetransaction with Tom Shaughnessy, JGPCO's director ofdevelopment.

"The building is suited for office and high-qualitywarehouse/manufacturing space and includes three dock doors andample parking," Shaughnessy says. It is available for immediatelease. Although Shaughnessy did not divulge the asking rental rate,the average asking rate for pure industrial space in the LehighValley is $3.74 per sf, according to data from the Philadelphiaoffice of Trammell Crow Co.

JGPCO has a significant presence in the Lehigh Valley within aninvestment portfolio of 2.5 million sf of industrial and officespace. Among its current development projects is Garguilo Produce,a 148,850-sf design/build refrigerated warehouse in Hillside, NJ.Other design/build clients include Presco Foods, Midas Muffler andFederal Express. In addition to its office here, JGPCO has anoffice in Asbury, NJ.