DLP Capital buys Lehigh Valley office building for $ 15.3 million
ST. AUGUSTINE, Florida – (COMMERCIAL THREAD) – DLP Capital, a private real estate finance and investment company, announces the acquisition of the Grand Plaza Building in Allentown, Pa., For $ 15.3 million through auction.
Grand Plaza, a 254,782 square foot, eight story Class A office building, is located at 835 West Hamilton Street, Allentown, PA 18101 in downtown Allentown. The property is currently vacant with the exception of an occupied commercial complex at street level.
Allentown and the Lehigh Valley hold a special place at the heart of DLP Capital and its founder and CEO, Don Wenner.
âThe Lehigh Valley is my original home,â said Wenner. âThis is where I started DLP Capital 15 years ago and it will always hold a special place in my heart. Any opportunity we have to reinvest in Lehigh Valley is an opportunity for me and DLP to reinvest in an area that has done so much for us. It’s incredibly special for our business.
Grand Plaza was originally built in 2005 for a division of PPL Electric Utilities Corporation, Talon Energy. The modern, award-winning building was designed by renowned architect Robert AM Stern and was the country’s first LEEDÂ® Gold certified office building.
About DLP Capital
DLP Capital is a private real estate investment and financial services firm focused on building IMPACT through the acquisition, development and building of relationships, homes, leaders and organizations. DLP Capital has a wide range of business and enterprise divisions including lending, investment funds, sales, leasing, securities services, property management, construction management, development and service loans. Through the Elite Execution System, along with its proprietary membership platforms focused on business scale, investment housing, family and wealth, DLP Capital is making an impact on lives in allowing its customers to choose, create, grow and preserve prosperity. For more information, visit DLPCapital.com or follow us @dlpcapital.