Lancaster PA Commercial Real Estate

Ventas to Acquire Cogdell Spencer for $770M

thiryj — Thu, 29 Dec 2011 14:39:53 +0000

NREI reports: Ventas Inc. continued its acquisition spree with the announcement that it has reached a definitive agreement to purchase Cogdell Spencer Inc., the owner of 72 medical office buildings, in an all-cash transaction. The boards of directors of both firms have approved the agreement, which includes $217 million in cash and the assumption of Cogdell’s debt for a total value of between $760 million and $770 million.

via Ventas to Acquire Cogdell Spencer for $770M.

Sechan Electronics awarded $78M in DOD contracts

thiryj — Thu, 22 Dec 2011 14:36:50 +0000

CPBJ reports: Sechan Electronics Inc. in Lancaster County on Monday was awarded a $64.2 million contract by the U.S. Navy, according to the U.S. Department of Defense.

The Warwick Township-based company will produce signal data processor-Sierra systems and provide engineering support services for the Navy’s Cooperative Engagement Capability program, according to a statement.

The program provides regular sensory data tracking for early detection of air threats, according to a news release.

Sechan Electronics awarded $78M in DOD contracts – Central Penn Business Journal.

Sheetz opening in Ephrata, PA – Joining urgent medical and urgent dental

thiryj — Mon, 19 Dec 2011 17:33:43 +0000

CPBJ reports: A Sheetz will open Thursday in Ephrata Township, the first of three businesses that will hire a total of about 95 people, company spokespeople said.
The gas and convenience store at routes 322 and 222 has 550 square feet of space, with seating for about 20 people, said Monica Jones, a spokeswoman for Altoona-based Sheetz Inc.

The building’s cost was between $2 million and $3 million, she said. Most of the construction and design was completed by internal teams, but Leacock Township-based contractor Scenic Ridge Construction was involved with the project, she said.

Between 35 and 40 people are hired for that size store, which will open at 9 a.m. on Thursday, Jones said.

In the spring, Lancaster General Health will open an Urgent Care center in a 5,000-square-foot space at the same plaza, spokesman John Lines said.

Sheetz opening in Ephrata; two other businesses coming soon – Central Penn Business Journal.

Regional printer acquires Pittsburgh, Manchester firms

thiryj — Thu, 08 Dec 2011 17:08:40 +0000

CPBJ Reports: Pemcor Printing Co. acquired Pittsburgh-based Typecraft Press Inc. on Oct. 25 and Manchester-based Laser Imaging Systems Inc. on Nov. 18.

Pemcor is a printing, mailing and marketing company with operations in East Hempfield Township in Lancaster County and West Conshohocken in Montgomery County. Laser Imaging Systems offers specialized printing and data processing services in the retail, health care and financial industries, and Typecraft Press specializes in cold-set web printing for the collegiate, specialty travel, and leisure markets.

via Regional printer acquires Pittsburgh, Manchester firms

Philly Fed Forecasts Growth for PA

thiryj — Thu, 01 Dec 2011 18:10:03 +0000

Pennsylvania’s economy is likely to continue expanding through the middle of next year, according to a forecast by the Federal Reserve Bank of Philadelphia. PA’s index for October was 1.0 and the national leading index was 1.5. The state saw a decline in initial unemployment claims and a positive trend in current economic activity.

via Philly Fed forecasts mild growth for Pa