The state has selected Broomfield, CO-based Level 3Communications to create a fiber optic link between New York Cityand nine Pennsylvania counties. It will begin with parcels inNorthampton and Monroe counties. As a result, the locally basedSynchrium Group is set to break ground on its first building inPenn Regional Business Center this summer.

Lawrence Simon, chairman and CEO of LTS Builders, based here inMonroe County, is also chairman of Synchrium, a name he coined bycombining "synchronicity" and "business continuum," he says,because PRBC is being "created to ensure business continuity." PRBCis a multi-phase project with capacity for more than three millionsf of specialty office facilities.

The opening phase is a 271,290-sf building on Rte. 209. Citingnon-disclosure agreements, he declines to discuss costs, rentalrates or prospective clients, but tells GlobeSt.com the propertieswill be leased, and the configuration of buildings is likely to bea mix of multi-tenant and single-tenant facilities. "Build-to-suitsare also a possibility, if a client, such as data center, forexample, has special requirements," he says.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.