Hanover Township | PA
Type: Flex – Class A Size: 60,000 RSF Year Built: 2002
Location: Located in Lehigh Valley Industrial Park IV, a Class “A” office/industrial park located in Hanover Township, PA, a ¼ mile north of Route 22, off Route 512, on Brodhead Road.
Description: Hanover Business Center East is a single story office/flex building on a 6.02 acre lot. The building is perfect for all office or office with small warehouse because of its flexibility, location, frontage, glass lines, and 22’ clear ceiling heights.
Case Study: Dunn Twiggar acquired this Class “A” Flex property at the end of 2005. Our strategy was to add value through the lease-up and property management of the building. At the time of closing, the building was 60% leased to 3 tenants. Today the property is 96% leased to 6 various office and flex users. All leases are at or above current market rental rates. In June of 2007, Dunn Twiggar refinanced the property with securitized lending and was able to fully return all owner equity, while still producing positive cash flow.