2C — December 7 - 20, 2012 — Pennsylvania — Mid Atlantic Real Estate Journal
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HARA TOWN- SHIP, PA — RIDC announces the sale 97,500 s/f facility in the RIDC Industrial Park RIDC sells O’Hara building to Tsudis Chocolate Co. for $3.9m O’ over 200 full-time employees. Tsudis
Since 1988
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RIDC also was the sponsor for Tsudis for a loan from the Pennsylvania Industrial Development Association (PIDA) received in Septem- ber. In addition, the property has recently been approved for designation as a Foreign Trade Zone (FTZ) under FTZ #33 in Southwestern PA, which is administered by RIDC. FTZ allows companies duty and tax savings benefits for companies involved in inter- national trade. Don Smith, Jr. , president of RIDC, says, “RIDC supports businesses that are creating jobs in the Pittsburgh region. We are happy to see Tsudis Chocolate continue to expand in the original RIDC Industrial Park in O’Hara.” ■
TK Budd Facility Redevelopment Revitalization
of 610Alpha Drive in the RIDC Industrial Park in O’Hara Township to Tsudis Chocolate Company, who had leased the building from RIDC for the last ten years. The sale closed for the 97,500 s/f facility on 6 acres of land for $3.9 million. The building was built in the mid-1960s for Lerner Stores Corporation as a warehouse facility. RIDC purchased the property in the mid-1980s to help retain Clark Candy Company in the region. Clark Candy Company operated the facility for several years before they were purchased by NECCO and subsequently moved out of the region. Tsu- dis Chocolate has leased the 97,500 s/f building from RIDC KUTZTOWN, PA - Kathy Reither-Ziegler of The Frederick Group based in Allentown, PA has recently arranged a $1.2M sale. The transaction consisted of a 20,000 s/f industrial build to suit on 1.2 Acres located in the Arrowhead Business & Industrial Park in Maxa-
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610 Alpha Drive since 2002. The purchase of the property will allow them to make building changes that will lead to an addition to production capabilities and increased employment. Tsudis Chocolate started in 2002 and moved to RIDC Park after it purchased the assets of Penhurst Candy, which was owned by Spiro and Marjorie Tsudis, the parents of the cur- rent Tsudis Chocolate owner. It started with 35 employees and has grown to employ
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Reither-Ziegler, Reed and Miller of The Frederick Group assist in closing $1.2M sale
Arrowhead Business & Industrial Park
tawny Township Kutztown. Kathy Reither-Ziegler rep- resented the seller, R.G.C. Development and Lehigh
Valley Building Systems. The buyer was represent- ed by Brandon Reed and Barry Miller . ■
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Building I Complete - Ready For Occupancy
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51-Acre Industrial Park For Lease or Build-to-Suit
Building 1 - 4275 Fritch Drive 228,000 SF (divisible) • ConstrucƟon completed July 2012 • Pre-cast construcƟon; 32’ clear • 53 loading doors; 2 drive-ins • On-site trailer parking • Building 2 - 4270 Fritch Drive 303,600 SF (divisible) • Pre-cast construcƟon; 32’ clear • 50 loading doors; 2 drive-ins • Abundant on-site trailer parking • Rail served •
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