Pennsdale business purchased for $6 million
MUNCY TOWNSHIP-The warehouse at 490 Lycoming Mall Drive previously owned by Grizzly Industries was recently purchased by Patton Warehousing for $6 million.
“It is one of the nicest and well-built warehouse buildings that I have ever seen,” said Steve Patton, president of Patton Warehousing, who added that the expansion should create 20 new jobs for locals in the area.
With a booming economy, some manufacturers have opted to contract other companies to store their materials. Patton said the purchase of the warehouse is to meet their demand.
“We are currently managing about 1.8 million square-feet of warehousing and it’s completely full so we acquired this building to accommodate future growth,” he said.
Additionally, the warehousing company is seeking to be closer to many of their clients in the region, which allows them to keep their prices low.
The new warehouse is already filling up with clients, said Patton, who estimates the space will be fully occupied within the next two months.
“We just continue to have almost daily phone calls from our current clients asking if we had additional warehouse space,” he said. “The sale came at just the right time.”
If the sale hadn’t been completed, then Patton Warehousing would have had to turn away customers, he said.
“Quite honestly, I’m looking on the other grizzly building,” Patton said. “That is on my radar as of today because the first building is already completely leased.”
Patton Warehousing operates under the umbrella of Patton Logistics Group, along with Watsontown Trucking, and Patton Logistics. Together, they employ more than 580 people and work in and out of Pennsylvania, New Jersey and Ohio.
“We’re just getting started,” he said. “You’re going to hear more from us in Lycoming County, for sure.”