Meeting Notices Read More

Former LTS Corporate Center Finds a Buyer with Big Plans

The former LTS Corporate Center, an expansive facility along Route 209 in Smithfield Township that once symbolized the booming Pocono real estate market, was sold in Feburare 2015 to DLP Professional Building LLC. According to the broker involved in the sale, the new owners plan revitalization and renovation efforts that they hope will return the the building to its former status as a beehive of activity.

The 71,000 square foot complex is located less than two miles off the Marshalls Creek exit of Interstate 80. It features 55,000 square feet of office space and a 16,000 square foot warehouse.

Photo taken from the road of the former LTS Corporate Center on Route 209

The new owners of the former LTS Corporate Center on Route 209 hope to return the building to its former state as a hub for regional business activity.

The sale was facilitated on behalf of the seller by Daniel M. Perich, CCIM and George Vlamis, CNE of KW Commercial, The Daniel Perich Group. The buyer was represented by Don Wenner of DLP Realty. The two brokers will now co-list the property for lease.

“My team and I are very proud to be involved in the sale of a very prominent property,” said Perich.

“Although it was greatly affected by the economic downturn, this building was once a huge center of business activity,” he continued. “We had leasing interest even before closing this deal and the new owners have plans to make a huge investment in building upgrades and renovations that should attract a variety of uses.

“When LTS occupied the location they employed several hundred people. We’re hoping that the renovations can bring back that kind of employment.”

Comments are closed