4C — April 10 - 23, 2015 — Pennsylvania — M id A tlantic
Real Estate Journal
www.marejournal.com
E astern PA By Jim Cummings, Mericle Commercial Real Estate Services Unique ReadyToGo! program dramatically reduces time to occupancy in NEPA N ortheastern Pennsyl- vania (NEPA) – also known as the North-
16 million s/f of bulk industrial space, which is about 22% of the total class A and B bulk industrial space in the entire market, has been constructed and occupied in NEPA since 2007. The region’s quick access to major metro areas (more than 51 million people live within 200 miles), available and af- fordable labor, and abundant and reliable utilities, have all played roles in this growth. However, it’s been a unique site development and specu- lative construction program, which has led the way.
Anyone who has been to NEPA knows that its terrain is both a blessing and a curse. The region’s mountains provide for beautiful views and are home to numerous residential areas. However, the shortage of flat land combined with environmental challenges left over from past coal mining activities, has at times made industrial development difficult and time consuming. Over the years, local economic development organizations had convinced numerous companies that NEPA was the best, most cost-productive location for new business operations, only to lose those projects when the region was unable to produce a level site with infrastructure or an existing building that met those companies’ needs. Enter the ReadyToGo! Program The program was created by Wilkes-Barre developer Rob- ert K. Mericle . His company, Mericle Commercial Real Estate Services (Mericle) , is fully preparing 90 sites in 11 NEPA business parks. Mericle’s ReadyToGo! Sites are cleared, graded, and compacted (think pool table) and have all per- mits, approvals, and utilities in place. To date, Mericle has completed work on 37 of the 90 sites. Almost all of these sites are located in tax-free zones. Mericle has even designed buildings for each site. These sites are so “ready-to- go”, that from the date a lease is signed, Mericle can have a tenant in a newly constructed building in nine months or less. The sites range in size from a few acres to more than 100 acres and have been de- veloped for buildings ranging from 10,000 s/f to more than 1,000,000 s/f. Mericle is also construct- ing speculative industrial, office, and flex buildings on its ReadyToGo! Sites. During the recession which began in early 2008, Mericle’s specu- lative development program continued unabated. Mericle constructed 15 buildings on speculation on its Ready- ToGo! Sites in NEPA from 2008 through 2014 with two currently under construction. Mericle is using its own re- sources to develop these sites and buildings. Mericle is a vertically integrated “master builder” with approximately 200 employees with expertise continued on page 6C
ern I-81 Cor- ridor – has b e c o m e a relevant lo- c a t i o n f o r c omp a n i e s s e ek i ng t o locate opera- tions in the No r t he a s t
Jim Cummings
U.S. NEPA communities such as Scranton, Pittston, Wilkes- Barre, and Hazleton, have seen an industrial resurgence in recent years. Approximately
ReadyToGo! Site in CenterPoint Commerce & Trade Park East
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