Jaindl Land Co. acquires two properties for $8.4M
Two prominent commercial sites previously operated by Lehigh Portland Cement are up for redevelopment.
Jaindl Land Co. of Orefield acquired two properties for $8.4 million and is looking to transform both sites into viable assets.
Developer David Jaindl said he acquired the properties from Lehigh Hanson, the successor of Lehigh Portland Cement.
One property is at 7660 Imperial Way, a 124,408-square-foot office building in the Iron Run Corporate Center near Interstate 78 and Route 100 in Upper Macungie Township. The other is a vacant property at 1900 Sullivan Trail in Forks Township, which formerly served as the headquarters of General Crushed Stone. The 22,000-square-foot structure requires total removal or renovation, Jaindl said.
Jaindl said he sees strong interest in office tenants looking to locate near the I-78 interchange.
“We like the Upper Macungie Township community as we have many successful projects in the township area,” Jaindl said.
His company is building a Lehigh Valley Health Network medical office building north on Route 100 from the new Jaindl 7660 building.
“These recent purchases and construction projects make a lot of sense as we have an appetite for income producing properties and feel the office market is strengthening in the Valley, particularly on the west side,” Jaindl said.