CAN DO, Inc., Greater Hazleton’s economic development corporation, has purchased a 90,000 square-foot industrial building in Humboldt Industrial Park and plans on marketing the building to potential tenants.
The building at 500 Oak Ridge Road is being added to CAN DO’s portfolio of more than one half million square feet that it currently leases to companies throughout its three industrial parks and the CAN DO Corporate Center in Drums.
Prior to purchasing the property from First Quality Nonwovens, CAN DO’s rental properties were 100 percent occupied.
“By acquiring existing buildings, we position ourselves to have available rental space for companies that are looking for a location where they can locate quickly,” said Kevin O’Donnell, CAN DO’s president and CEO.
First Quality Nonwovens, which also operates a manufacturing facility on Green Mountain Road in Humboldt Industrial Park West, recently purchased the adjacent OfficeMax building and consolidated warehousing and administrative activities from the Oak Ridge Road property into that building.
CAN DO secured a loan from the Pennsylvania Industrial Development Authority to help pay the $4.4 million purchase price for the building on Oak Ridge Road.
“In addition to purchasing available buildings like the one on Oak Ridge Road for its leasing portfolio, CAN DO has also been working to prepare undeveloped sites throughout our parks for companies that are looking for properties that have all approvals in place for construction. Many companies today, when there are no available buildings, are seeking fully permitted sites where construction can be completed in a much shorter time,” O’Donnell said.
The Oak Ridge Road property is located in Hazle Township. First Quality Nonwovens is located in both Hazle and East Union townships.