Hinerfeld Commercial Real Estate, Scranton, PA

The site of a former manufacturing plant in Dunmore may turn into more housing for the community.

The former BAE Systems Specialty Defense System of PA Inc. building in Dunmore recently sold for $235,000 to 530 Sherwood Development LLC.

“Our plan is to develop residential townhouses for sale at the location,” said Jerry Ferrario, who is developing the property with brother Joe Ferrario and Mike Vacendak.

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PLAINS TWP., PA – Keystone Commons should be more than an idea by next February.

Construction of the twin office buildings planned for high ground in the East Mountain Corporate Center is expected to begin by the end of this year, or sooner, said Chris Siegel, chief executive office of Ruckno Construction Co.

“That will be the tentative goal,” Siegel said Monday after he and Ernie McCabe, president of Ruckno’s commercial division, visited the site along Baltimore Drive.

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SCRANTON, PA – Keystone Community Resources, Inc. leased 13,000 s/f of space at 215 Hickory St. from DDRC Realty Company. The space consists of 8,000 s/f of showroom and workshop space, 3,000 s/f of warehouse space and 2,000 s/f of unfinished space.

John Cognetti, SIOR, CCIM, who represented DDRC in the lease negotiations, said that the space was a perfect fit for this particular tenant. Their need was for space for an adult day activities center for persons with mild and severe disabilities, a storage facility for equipment and supplies that would serve all their facilities and office space plus adequate parking and space for client transport. The space at one time was home to a Harley Davidson franchise and recently was a showroom and production space for vinyl products contractor.

“Seeing beyond what was there took the creative efforts fo the Keystone staff, their architect and the owners who are general contractors,” said Cognetti. The location within two blocks of an entrance/exit ramp to the Central Scranton Expressway provides convenient access to all of Lackawanna County. Also it is near Downtown Scranton and accessible to all parts of the City.

-Courtesy of Mid Atlantic Real Estate Journal

A one-time downtown Scranton firehouse and long-time home of an engraving facility has been sold, and its fate is uncertain.

Scranton Engraving, 233 Franklin Ave., was sold last week for $138,500 to Bill Rosado, owner of the Rosado Group and the Ford Dealership that flanks building.

The seller was Scranton Engraving owner Thomas G. McCormack, 82, who continued to run the business until a just few weeks ago.

Mr. McCormack purchased the business from Times-Shamrock Communications (which publishes BusinessWeekly) almost three decades ago. Scranton Engraving had been a wholly owned subsidiary whose largest customer was The Scranton Times, although the business did outside commercial jobs as well.

Because of technological upgrades, The Scranton Times production moved from hot-type to cold-type printing. Engraving was no longer needed, and the company sold the business to Mr. McCormack in June 1979.

With its handful of clients and six employees, the company moved to Franklin Avenue and continued to produce half tones, line negatives and other prepress services.

He was able to expanded the business. But the digital age soon caught up with company, as more printed material moved from a computer directly to a printer or offset plate. Prepress services became more obsolete.

In more recent years, Mr. McCormack kept the company going thanks plaque etching and boutique work. Shrinking volume and taxes took too great a toll.

“Business was good for a long time. We expanded, got more work and changed with what was happening, but we never got into computers,” Mr. McCormack said. “We did a good job, and we had loyal clients. But this sort of work isn’t needed as much, and we didn’t have the volume to continue.”

The property was listed by John Cognetti and Harry Rothstein, of Hinerfeld Commercial Real Estate, in Scranton. The building was initially listed at $190,000, Mr. Cognetti said, but its marketability was limited by its “as-is” status, equipment included in the sale and limited parking.

Mr. Cognetti said Mr. Rosado wasn’t sure if he had a use for the building or would demolish it.

Property facts
Location: 233 Franklin Ave., Scranton.
Sale price: $138,500.
Land: 3,600 square feet.
Building: 4,900 square feet.
Old use: Home of Scranton Engraving.
New use: To be used or demolished by the surrounding car dealership.

- Courtesy of The Times-Tribune Business Weekly

Recent Sale:
562 N. Main St., Pittston
$230,000
The former Keen Floral retail outlet and warehouse was recently sold by Hinerfeld Commercial Real Estate of Scranton. The approximate 9,000-square-foot building has an 1,800-square-foot enclosed shipping dock.

- Courtesy of The Times Leader

The founder and president of the vacation dealer, John Dowd, purchased the former state Department of Labor & Industry building from the Girard Estate for $3.25 million and plans $1 million in renovations to the 47,000-square-foot building. Sundance will move from its current home on Kidder Street and occupy about one-third of the renovated building, which it will use as corporate headquarters and a local marketing and sales office. The rest of the building, to be dubbed the Arena Commons, will be leased.

Despite the building’s desirable location at one of the busiest crossroads in Wilkes-Barre Township, it was on the market for about 18 months. Listing agent Mike Detter, of Hinerfeld Commercial Real Estate, said the seller was holding out for a buyer who saw value in the building. Land in the area has been selling for between $400,000 and $500,000 per acre, and the building lot was just over four acres.

“Developers would have liked to buy it for $2 million and tear down the building, but we wanted to wait for someone who both liked the location and saw value in the building,” Mr. Detter said.

While the Internet has nearly eliminated walk-in travel agencies, Sundance has been able to survive because of its unique approach. Its customers buy several weeks of vacations in advance, and then select their destinations from Sundance’s inventory of condominiums in vacation destinations.

“We are in a different niche, and we are growing,” said Kathy O’Mara, communication director for Sundance.

The building has more than 200 parking spaces and is off Interstate 81, across the street from the Wachovia Arena.

Property facts
Location: 264 Highland Park Blvd., Wilkes-Barre Township
Sale price: $3.25 million
Land: 4 acres
Building: 47,000 square feet
Old use: Former state Department of Labor and Industry building.
New use: Headquarters of Sundance Vacations and leased office space.

- Courtesy of The Times-Tribune Business Weekly