Mericle Bucks Trend, Has Ten Spec Buildings Under Construction in Northeast PA

(July, 2008) Wilkes-Barre, PA – with the spate of gloomy news about the economy, many developers are putting a hold on their plans to construct spec buildings. Not so with Mericle Commercial Real Estate Services of Wilkes-Barre, PA.

Considered to be the largest privately-owned developer of industrial real estate in Pennsylvania, Mericle will soon complete construction on seven Northeast PA spec buildings totaling almost 1.1 million square feet with site work underway on three more totaling nearly 700,000 SF. All 10 are being constructed in special tax-free zones.

Mericle is a traditional Master Builder and self-performs nearly 100% of the work on its projects. Mericle’s in-house team designs the buildings, secures all permits, completes excavation and site work, constructs the building and does almost all tenant improvements. This approach allows Mericle to always have a variety of available space. Mericle completes its projects an estimated 30% faster than competing developers. In addition to being located in tax-free zones, all 10 project sites are located in established business parks with strong utility service and immediate access to the Interstates. The new buildings are very attractively priced with several being offered at just under $4 per square foot, NNN.

Here is a quick recap of the new spec buildings:

· 410,000 SF with rail available in Humboldt Industrial Park near Hazleton, PA. Can be expanded to 606,800 SF and subdivided to 82,000. Features 30’ ceilings and 46 loading doors. All taxes abated through 2010. Just two miles from I-81 and 10 miles from I-80. Ready for tenants.

· 396,800 SF expandable to 620,000 square feet in CenterPoint Commerce & Trade Park East near Pittston, PA. Site work underway. Will feature 30’ ceilings and 54 loading doors in cross-dock format. Property taxes on improvements abated 100% for 10 years. Just ½ mile from I-81 and I-476. Ready for tenants in spring, 2009.

·  217,000 SF in CenterPoint East. Can be subdivided to 49,600 SF. Features 33’ ceilings and 29 loading doors. Property taxes on improvements abated 100% for 10 years. Just ½ mile from I-81 and I-476. Ready for tenants.

· 198,400 SF in CenterPoint East. Features 33’ ceilings and 30 loading doors in a cross-dock format. Can be subdivided. Property taxes on improvements abated 100% for 10 years. Just ½ mile from I-81 and I-476. Ready for tenants this September.

· 198,400 SF in CenterPoint East. Site work underway. Will feature 33’ ceilings and 28 loading doors in a cross-dock format. Property taxes on improvements abated 100% for 10 years. Just ½ mile from I-81 and I-476. Ready for tenants in spring, 2009.

· 98,000 SF flex building in CenterPoint East. Site work underway. Will feature 30’ ceilings and 14 loading doors. Property taxes on improvements abated 100% for 10 years. Just ½ mile from I-81 and I-476. Ready for tenants in spring, 2009.

· 92,400 SF flex building in CenterPoint East. Can be subdivided. Features 30’ ceilings and 14 loading doors. Property taxes on improvements abated 100% for 10 years. Just ½ mile from I-81 and I-476. Ready for tenants this September.

· 84,121 SF flex building in CenterPoint East. Can be subdivided in approximately 6,000 SF increments. Features 30’ ceilings. Property taxes on improvements abated 100% for 10 years. Just ½ mile from I-81 and I-476. Ready for tenants.

· 44,800 SF flex building in CenterPoint East. Can be subdivided. Features 30’ ceilings. Property taxes on improvements abated 100% for 10 years. Just ½ mile from I-81 and I-476. Ready for tenants this September.

· 41,344 SF office building in Corporate Center at East Mountain near Wilkes-Barre. Just one mile from I-81. One-story building with brick exterior that can be subdivided into approximately 10,000 SF sections. Property taxes on improvements abated 100% for 10 years. Strong power and telecom. Mericle will begin construction on an approximately 24,000 SF office building in this park later in 2008.

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Featured Properties

61 Green Mountain Road

This 408,600 SF building sits on 39.4 acres and can be expanded to 648,200 SF. Features quick access to I-81 & I-80, 30'9" ceilings and 32 loading doors (cross dock format). State and local taxes abated through 2010!
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CenterPoint Commerce & Trade Park, a Mericle-developed and owned property on the I-81 Corridor, is comprised of 1,800 acres and sits less than 1/2 mile from exit 175 of I-81 and exit 115 of I-476 (Northeast Extension of the Pennsylvania Turnpike).
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2 North Park Drive
New 410,000 SF industrial building in KOZ zone near I-81 and I-80. Can be subdivided to 82,000 SF and expanded to 606,800 SF. Features 30’ ceilings, 46 loading doors, T-5 lighting and ESFR sprinkler. State and local taxes abated through 2010.
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