J.G. Petrucci Co. Inc., a developer with offices in Bethlehem and Asbury, N.J., bought a building for $2.675 million from Hygrade Components in Lehigh Valley Industrial Park IV in Hanover Township, Northampton County.
The one-story, 49,000-square-foot building is the headquarters of Hygrade Components, one of the largest suppliers of insulating glass and window components.
Hygrade signed a 10-year lease to stay in the building, which it has occupied since Petrucci designed and built the facility, said Martin Till, regional president for J.G. Petrucci.
Till said it was “a great building with a great tenant. It is a win/win situation for everyone.”
Petrucci, which has built more than 15 buildings in other LVIP complexes, owns buildings in LVIP IV occupied by Alpha Packaging, FedEx, FedEx Ground, AeroMed, Follett Corp. and Phillies Feed.
“We consider LVIP to be the finest industrial park system on the East Coast,” Till said. “We are always looking to add to our portfolio.”
Hygrade Components was founded in 1939 and has plants in Oregon, Tennessee and New York.