J.G. Petrucci is a regional design build development group focusing providing turnkey projects for third-party clients and tenants.
Peter Polt is executive vice president. He has been with the company for 13 years and runs the multi-family group and industrial group.
LVB: It’s been a very busy year for Petrucci. Tell me about some of the major projects you’ve completed.
Polt: One of the areas we focus on is in the Lehigh Valley is light manufacturing. We’ve completed two out of three buildings at Lehigh Valley Flex Center off of 512 in Hanover Township. The first building was completed for Stuffed Puffs. The second building is being built on spec, but is being leased to an existing tenant of Petrucci’s, and construction on the third building will begin in the spring.
We’ve also completed a lease for a 150,000-square-foot building in LVIP 7 for an indoor vertical farm for Bowery Farms. We’ve also done a lot of projects in Forks Township for third-party light industrial and manufacturing customers.
One of our bigger projects is underway in Bethel Township near Hamburg. It’s 508,000 square feet of spec space that will likely be pure warehouse space.
LVB: How much of your work this year was speculative and how much was with an end user in mind?
Polt: I don’t know if I have an exact percentage. At the Lehigh Valley Flex Center, Building Two was built on spec. Bowery farms was not built on spec. In Forks most of the building is with an end user in mind. It’s a mixed bag. Light Industrial projects are usually the projects we do with an end user in mind.
LVB: What industries have been your biggest customers this year?
Polt: I would say food. Food has been a very big undertaking for us this year. We did the Stuffed Puffs. We did the Bowery Farm deal. Those were two very big projects for us.
Light industrial and manufacturing would be second.
LVB: What’s coming next for Petrucci in 2021?
We have over 2 million square feet in speculative big box development coming up. We’re breaking ground on a 1 million-square-foot building and our final third building in Lehigh Valley Flex center will be 160,000 square feet.
We’ve also got some big multi-family projects coming up; one in East Orange, New Jersey, and there are a lot of other projects we’re currently contemplating.