PNK Group's new project will bring unused land back into the economy.
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PNK Group USA intends to create a large industrial park in northeastern Pennsylvania. To accomplish this, the Company has purchased 88.73 acres of land near the town of Scranton, 127 miles from New York City. The prime location along the I-81 corridor provides direct access to more than 99 million people living within a 500-mile radius. This consumer reach makes the project potentially interesting to practically all industries.
The transaction is carried out with Scranton Lackawanna Industrial Building Company (SLIBCO), a subsidiary business of the Greater Scranton Chamber of Commerce. PNK Group purchased three adjacent land plots from it, which will now be used to construct industrial buildings totaling 765,000 square feet. The area is part of the Valley View mixed-use business park (whose tenants include TMG Health, McLane Company, Chewy, Amazon, Pasqualichio Brothers Inc., and Cardinal LG.), whose development is being handled by SLIBCO.
PNK Group USA is currently preparing the territory, including working on the remediation of 19th—and 20th-century mines located on these sites. The problem of abandoned mines and adjacent technogenic wastelands has long been an important issue for local authorities. The reclamation, which PNK Group USA intends to complete in the coming months, should bring these lands back into the national economy.
"We are delighted to bring our expertise in financing, development, engineering, and construction to this strategically important location. This investment underscores our confidence in the region's economic prospects and our commitment to fostering growth and technology. PNK Group is contributing to the continued success of the local economy through industrial development," said PNK Group USA representative Mark B. Stiles.
According to Mr. Stiles, northeastern Pennsylvania has excellent potential in terms of labor availability and is located close to major markets, which is why the region has been selected as a strategic investment location for PNK Group USA. In addition, Valley View Business Park offers numerous sites with Keystone Opportunity Expansion Zone (KOEZ) designation. Depending on the site designation, KOEZ-eligible tenants may be exempt from Pennsylvania state and local business taxes through 2020, 2024, and 2026.
Valley View Business Park's infrastructure can support a variety of activities, from office work to industrial manufacturing. Utilities are situated here so that they can be extended from the roadway directly to the site, reducing construction costs.
The immediate neighbors of the future PNK Park Valley View will be warehouses and offices of Amazon, MTF Biologics, McLane Pennsylvania, Northeast Laminated Glass Corporation, and several other major companies.
As an engineering and manufacturing pioneer, PNK Group USA spearheads technological advancements in industrial construction. The company's construction methodology, utilizing large-unit blocks, streamlines building assembly through precise element production, minimizing the need for extensive labor and heavy machinery.
Earlier in 2024, the company announced plans to increase the capacity of its new reinforced concrete and structural steel plants in Pennsylvania and Georgia.
Materials used: https://www.scrantonplan.com/real-estate/valley-view-business-park/
Contact Info:
Name: Mark B. Stiles
Email: Send Email
Organization: PNK Group
Address: 17 State Street, Suite 3930
Phone: 6465177915
Website: https://pnk.group
Release ID: 89124624
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