JLL and ALT selected to re-lease six-building portfolio located in Bethlehem, PA

JLL and ALT have joined forces to secure leasing on behalf of PennCap Properties for six buildings on Valley Center Parkway in The Lehigh Valley Corporate Center, Bethlehem, Pa. The assignment consists of 1550, 1560, 1605, 1640, 1650 and 1660 Valley Center Parkway. Leasing efforts will be led by JLL’s Executive Vice Presidents Phil Schenkel and Adam Shute, Vice President Matthew Dorman, and ALT’s Leasing Representative Jessica Goffredo. 

The six-building collection consists of over 277,000 square feet of Class A office and laboratory space. Five of the buildings are uniquely arranged in a “campus” style, offering tenants the ability to occupy multiple buildings while providing easy access between properties. Buildings 1640 and 1650, connected by an enclosed glass walkway, share dedicated outdoor space for even greater connectivity and collaboration among teams and building users.

Buildings 1550, 1560, 1640 and 1650 are the current home to Lehigh Valley Academy, a Regional Charter School that has announced their intent to purchase a site, build a new school and vacate the properties when their lease expires in the Fall of 2023. The buildings are equipped with classroom and office spaces with rear-loading overhead doors, offering the ability to provide drive-in doors and making them highly attractive to technology, life science and pharmaceutical companies seeking flexible office and lab space solutions.

At 1605, a stunning, three-story, 95,000-square-foot office building offers multiple Class A occupancy options ranging from 3,500-square-foot suites to multi-floor tenancy.

A key driver for the beautifully planned Lehigh Valley Corporate Center is its park-like setting and ample access to walking trails and outdoor spaces, ideal for companies focused on promoting employee health and well-being. Located just off the intersection of Route 22 and Schoenersville Rd in the heart of the Lehigh Valley and with easy and convenient access to Routes 22, 33 and 378, this is a prime location for commuters and business partners alike. The properties are located just minutes from Lehigh Valley International Airport and are within a short drive to a variety of dining and retail destinations.

Known for its ease of access, the Lehigh Valley market continues to draw attention from surrounding major markets as an attractive and affordable alternative location. Philadelphia and its suburbs are within a one-hour drive and NYC is approximately an hour and a half drive.

“We are thrilled and honored to be selected by PennCap to assist with the releasing of these terrific properties,” said Schenkel. “The properties in the Lehigh Valley Corporate Center are ideally suited and positioned to attract significant tenant interest from a variety of existing users in the Lehigh Valley as well as those seeking a long-term foothold in the market.”

For more information visit jll.com/Philadelphia.

About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $18.0 billion, operations in over 80 countries and a global workforce of more than 94,000 as of March 31, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.

About PennCap Properties

PennCap Properties serves the commercial real estate needs of businesses as the leading owner and operator of class “A” office and flex properties in the Lehigh Valley. With unparalleled market knowledge, an incomparable portfolio, and concierge-like tenant services, PennCap Properties is the clear partner for all of your Lehigh Valley commercial real estate needs. As a full-service real estate company, PennCap Properties’ services include commercial leasing, property management, and commercial property development.