The three-story, 70,000-sf building will be renamed CommerceBusiness Center. Upgrades include an additional elevator,additional windows and a renovated lobby along with variouscosmetic enhancements. It is designed as a multi-tenantproperty.
Frank T. Smith of Allentown-based Summit Management and RealtyCo. represented both the buyer and seller in the transaction. Theseller is Dallas-based Zale Corp., which acquired Piercing Pagodain 2000 and continues to operate approximately 850 Piercing Pagodakiosks. The company claims to have pierced more than 200 millionpairs of ears since it was founded about 20 years ago.
The new owner of the building retained Summit to lease andmanage Commerce Business Center. "It is available for immediateleasing at very aggressive rates," says Smith.
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