Real Estate Journal — Design/ Build | Construction Management — Owners, Developers & Managers — November 27 - December 10, 2015 — 9B
www.marejournal.com M id A tlantic
D esign / B uild | C onstruction M anagement Comprised of undeveloped land and a developed parcel with a 336,500-ft partially outfitted building
Crystal Window & Door Systems expands in northeast Pennsylvania
LUSHING, NY — Na- tional manufacturer Crystal Window & Door Systems , headquar- tered in New York, pur- chased a 226-acre property in northeast Pennsylvania to expand its production capabilities. The property, which is comprised of a par- cel of undeveloped land and a developed parcel with a 336,500-ft partially outfitted building, was purchased for $5 million. “Crystal Windows’ acquisi- tion in Pennsylvania is the next step in our long history of expansion and growth,” said Thomas Chen, founder and CEO for Crystal. “For 25 years, Crystal has provided quality products to the con- struction and fenestration industries, and once up and running, this new produc- tion facility will enable us to continue to serve our growing customer base across the na- tion for a long time to come.” The newly acquired proper- ty is located in Benton Twp., just north of Scranton, a mile west of I-81. Originally owned by Northrop Grumman and then by Owens-Corning, the property was partially but never fully outfitted for production operations. The facility was then bought by TheWolfington Companies of King of Prussia, from whom Crystal bought the property. Crystal Windows plans ma- jor interior renovation and outfitting for production and administrative spaces, as well as major equipment acquisition for a number of vinyl and aluminum window assembly processes. At a recent press confer- ence hosted by The Greater Scranton Chamber of Com- merce, Crystal Windows’ executives stated that ma- jor building renovation and upgrading was underway, and production equipment delivery had already begun. With the aggressive sched- ule, Crystal expects to be producing its first alumi- num windows at the facility in January or February of 2016. Further development of the facility calls for the eventual production of all of Crystal’s 20 vinyl and alumi- num product lines as well as associated glass, vinyl and aluminum operations at the new factory. Crystal’s long range conceptual F
plans also call for the ma- jor expansion of the existing structure. Further down the road, the company envisions the possible creation of a major multi-facility business park of Crystal subsidiaries and affili- ated firms. The initial start-up year of operation will see the hiring of 30 to 50 workers. As the production operation ramps up over the next five years, a total of 300 to 350 employ- ees will be needed, and long rang plans could see a total corporate/industrial park workforce of 500 to 600.
The real estate broker for the deal was Jones Lang Lasalle . Law firms represent- ing the buyer were Hourigan, Kluger & Quinn and The O’Brien Law Group . Law firms Silverang, Donohoe, Rosenzweig & Haltzman and Hamburg, Rubin, Mul- lin, Maxwell & Lupin rep- resented the seller. Financing for the acquisition is provided by Webster Bank. Site inspec- tions, legal and engineering reviews, and property apprais- als were conducted by several local and regional Pennsylva- nia firms. n
As part of its overall expansion plan, national manufacturer Crystal Window & Door Systems purchased the former Owens-Corning prop- erty in Benton Township, PA and will renovate the 336,500-ft factory building to begin fabricating windows early in 2016.
Made with FlippingBook - Online catalogs