Derek Zerfass of Colliers International’s Allentown office represented First Commonwealth Federal Credit Union (FCFCU) in the sale of its existing corporate headquarters at 257 Brodhead Road in Bethlehem, paving the way for the growing credit union’s transition to its newly developed headquarters with adjacent full-service financial center within the Trexler Business Center. Construction on the new facility is within a few months of completion and has been paused amidst the global coronavirus pandemic. Construction will restart on May 8th as a result of recent orders from Governor Wolf.
The 33,000 square foot two-story office building was transferred to an investor, Brodhead Road Holdings LLC, for a sum of $3,000,000. The buyer was represented by Ryan Dietrick and Kelly Berfield, also of Colliers’ Allentown office. The building will not be empty for very long, if at all. A new tenant has already been procured; however, the announcement date is still to be determined.
“Colliers was key in helping us navigate the sale. Their diligence, collaboration and focus on building relationships helped us achieve this key milestone. We’re thrilled to be only few months away from moving into our new headquarters. Our new facility will enable us to not only streamline our growing operations and enhance operational efficiency, but also help us better serve our members and create a future-aligned workplace experience to attract and retain the very best talent,” said Tricia Szurgot, Chief Operating Officer at FCFCU.
FCFCU’s search for their new headquarters and financial center location concluded last spring in the purchase of two pad sites at 6126 Hamilton Boulevard in the new Movie Tavern anchored Trexler Business Center in Trexlertown, PA. One pad site will house an 81,000 square foot headquarters building and the other will host its new multi-story Trexlertown financial center, including its first wealth management center.
FCFCU is the largest credit union in the Lehigh Valley, the #1 Credit Union in PA (Forbes, 2019) and one of America’s Top 50 Credit Unions (Forbes, 2019), serving 66,000 members and 1,500 member companies.
About First Commonwealth Federal Credit Union
First Commonwealth, based in Bethlehem, PA, is a leader in banking innovation and the largest credit union in the Greater Lehigh Valley. With eight financial center locations and a best in class digital banking center, First Commonwealth serves more than 66,000 members and 1,500 member companies in the Greater Lehigh Valley and beyond. As a member-owned, not-for-profit financial cooperative, First Commonwealth is a leader in the B2C and B2B financial services marketplace and has been committed to growth, innovation, technology and personal, friendly service since 1959. First Commonwealth has 170 employees and $700 million in assets and serves its membership through purpose-driven and mission-based values to help members prosper. First Commonwealth FCU is committed to giving back through their First Commonwealth FCU WE Thrive® Foundation and Corporate Social Responsibility initiatives. www.firstcomcu.org
Colliers International (NASDAQ, TSX: CIGI) is a leading global real estate services and investment management company. With operations in 68 countries, our 14,000 enterprising people work collaboratively to provide expert advice and services to maximize the value of property for real estate occupiers, owners and investors. For more than 20 years, our experienced leadership team, owning more than 40% of our equity, have delivered industry-leading investment returns for shareholders. In 2018, corporate revenues were $2.8 billion ($3.3 billion including affiliates), with more than $26 billion of assets under management.
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