The company has purchased 49 acres on Jaindl Boulevard, where it wants to construct two industrial buildings.
A Connecticut real estate company that owns property in the Lehigh Valley has bought more land intended for industrial development.
Griffin Land Nurseries Inc. has completed a $7.2 million purchase of 49 undeveloped acres on Jaindl Boulevard in Hanover Township, Northampton County, land targeted for two industrial buildings, the company said in a news release.
The company submitted plans months ago to township planners for two buildings totaling 533,000 square feet. Both buildings will likely be of similar size, Griffin President Michael Gamzon said.
Gamzon said the company does not have any commitments or timetable yet but is marketing the site to prospective tenants. Zoning on the property allows for warehouse, distribution, light manufacturing or light assembly.
Griffin Land, which is developing property in Lower Nazareth Township, said it has been attracted to the Lehigh Valley because of it provides good access to highways and a friendlier business climate than New Jersey,
“We’re encouraged by the activity we see and believe we will continue to see in the Lehigh Valley,” Gamzon said Wednesday.
The company purchased the Hanover Township property from the estate of Fred Jaindl. The deal included rescission rights if municipal approvals required for the land’s development were not obtained.
Bloomfield, Conn.-based Griffin Land has also built one warehouse and plans another on 51 acres in Lower Nazareth Township.
The speculative development, dubbed Lehigh Valley Tradeport, is on Fritch Road, off Route 191 near the Bethlehem Township border.