Riverside Business Center Archives

Riverside Business Center, Whitehall – PHOTO/PROVIDED

Pianca Packaging, LLC has signed a lease with Buligo Capital Partners for more than 28,000-square-feet of industrial space within the Riverside Business Center in Whitehall.

Headquartered in New Jersey, Pianca Packaging manufactures and provides custom-designed containers for end-users such as Applebee’s, Costco, Starbucks Coffee, Publix Super Markets and Wegmans Food Markets.

Newly released products feature tamper evident and resistant technology. The group intends to utilize the space to open and operate a new facility serving companies throughout the surrounding region.

Located at 1139 Lehigh Ave. and constructed in 1910, the 423,900 square foot single-story light industrial building was acquired by Buligo this spring.

Brian Knowles and Eric Zahniser, principals with Lee & Associates of Eastern Pennsylvania arranged the lease transaction.

Riverside Business Center features average ceiling heights of 20 feet, heavy power, and ample automobile and truck parking.

The center is located adjacent to US Route 22, with immediate access to Interstate 78 and the Pennsylvania Turnpike.

“Pianca Packaging was searching for a new location that could satisfy several important criteria including the availability of heavy power to fuel its manufacturing operations, access to major highways including US Route 22 and a strong labor pool,” said Brian Knowles of Lee & Associates of Eastern Pennsylvania. “Riverside Business Center emerged as the winner based on the immediate availability of space and its core location within a region with a recognized industrial user base.”

Aerial view of Riverside Business Center. PHOTO/PROVIDED –

Riverside Business Center, Whitehall, has been sold for $34.65 million.

1788/Riverside Business Center LLC sold the complex, a 423,900-square-foot, single story light industrial building to Buligo Capital Partners, an international investment firm, for $34.65 million.

1788/Riverside Business Center, an affiliate of 1788 Holdings LLC, a Bethesda, Maryland-based real estate investment company, acquired the property, located at 1139 Lehigh Avenue, in 2018 for $11.65 million and increased the occupancy of the warehouse portion from 87% to its current 100% during its four-year hold period, the company said in a press release.

Michael Hines of CBRE’s Radnor/Philadelphia office represented the seller in this transaction.

“We were initially attracted to Riverside Business Center based on the unique opportunity to acquire a high-quality Class B light industrial property that was substantially leased with in-place rents significantly below market, as well as the compelling opportunity to build significant value with a strategic capital investment program, aggressive leasing effort and cost-efficient property management strategy,” said Larry Goodwin, principal, 1788 Holdings.

“The property contained every fundamental necessary to achieve this objective, led by an irreplaceable location, a strong tenant base and the extreme acceleration in demand for industrial, light manufacturing and warehouse space throughout the Lehigh Valley corridor,” he said.

Constructed in 1910, Riverside Business Center has been improved and renovated on numerous occasions, including the investment of more than $9 million by the previous owner in 2006 to convert the property from a single-user manufacturing facility into a multi-tenanted warehouse and light manufacturing facility, the press release said.

The conversion included the installation of 31 dock doors and 23 drive-in doors, the installment of modernized HVAC and lighting and plumbing systems, substantial improvement to all tenant suites, a complete exterior brick and concrete makeover and parking lot upgrades.

Abutting the Lehigh River, the center is located adjacent to US Route 22 with access to Interstate 78 and the Pennsylvania Turnpike. Lehigh Valley International Airport is less than three miles from the site. It is within a one-day truck drive to approximately one-third of all consumers in the United States, the release said.

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