News Release:
Thomson Building to Become Distribution Facility
A partnership between Caracor and investment firm New Boston Fund, Inc., has acquired the former Thomson Electronics Facility in Dunmore, Pennsylvania. The building is situated outside of Scranton in the Keystone Industrial Park at the intersection of Route 81, Route 84, and Route 6. The deal includes a 42-acre site and 500,000 SF building with 26-foot clear ceilings. The partners intend to spend $5,000,000 to renovate the facility for distribution and warehouse uses with new flooring, sprinklers, dock doors, heating and lighting throughout.
“We purchased this property because of its proximity to major highways and the New York and Philadelphia markets, as well as because of the extraordinary construction of the facility already in place,” explained Del Markward, SIOR, President and Founder of Caracor. “We expect it to be a favorable addition to our portfolio.”
The seller, Thomson #1, LLC and Thomson #2, LLC, was represented by Mike Capobianco, SIOR of Markward Group in the transaction. “This is a good distribution location for New England and the Atlantic Seaboard,” said Mr. Capobianco. “Demand for this type of product should remain strong,” he added. Mr. Capobianco will be a part of the team that will market the property for the new owners. Management of the property will be handled by Markward Group Management and Maintenance, LLC.
“This project should create new business activity at this location and generate new jobs for the area,” said Caracor Development Manager Sean Murray. “We’ve already had great success using local contractors in the preliminary phases of the project,” he added. The Thomson Plant was closed in 2001 and production relocated to Mexico, eliminating over 1000 local manufacturing jobs. The plant once produced 27-inch television tubes and had been in operation since 1966.
Click the link below to check out the Project Profile for the Thomson Building
Call us at 610.770.3600 or email us at sales@caracor.com for more info.
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