Mericle buys property from Glen Summit Water Co. | Company
Mericle Commercial Real Estate Services added to its holdings in the Crestwood Industrial Park with the recent purchase of the Glen Summit Springs Water Co. property for $1.25 million.
The developer has acquired a 10.42 acre parcel from Wright Twp. bounded by Crestwood Drive and Route 437 for $1 million. The property is home to Glen Summit’s Mountain Top bottling plant and distribution warehouse. Mericle also secured a 68-acre parcel on the east side of Highway 437 for $250,000. This property is unbuilt and mostly wooded.
Jim Cummings, Mericle’s vice president of marketing, said the developer had no definitive plans for the Glen Summit property.
“As the leading developer of industrial, flex and office space in northeast Pennsylvania, we regularly seek to acquire land that has development potential,” Cummings said. “As with all of our land acquisitions, we are monitoring the market and, when the time is right, developing plans that help us make the most of the property so that we can recruit quality employers who bring value-added jobs to the region.”
Cummings asked Glen Summit officials about the future of the 130-year-old water bottling business.
John Tidball, CEO of Glen Summit, said the bottling business will continue to operate and with the acquisition by Mericle there are plans to improve the operations of the business.
Tidball said he couldn’t elaborate on those plans.
He noted that any plans for the future use of the property would require approval from various government agencies.
Tidball said Glen Summit employs about 20 people.
The acquisition of the Glen Summit property not only expands the industrial park property footprint that Mericle already owns, but also provides its business with access to rail service. The Reading & Northern Railroad line passes a few meters from the Glen Summit property, along Route 437.
The sale will bring $6,250 in land transfer tax revenue to Wright Twp.
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