If you’re looking around in Pike County right now, the signs of increasing capital investment and absorption of real estate in our community are abundant and that speaks volumes about the direction our local economy is heading.
The Altec Lansing corporate headquarters, exceeding 190,000 square feet and located on Rt. 6 & 209 in Milford Township, was sold less than 120 days after going on the market. That timeframe also included approvals from Milford Township to allow the building to be occupied by multiple businesses. In addition to Ryman’s company, Altec Lansing will remain in a portion of the facility and additional space may become available as well.
In addition substantial commercial construction projects are underway or recently completed in Westfall (Advanced Auto Parts), Palmyra (Dunkin Donuts) and Milford Townships (Jack Williams Tire & Auto Center), as well as Milford Borough (Pike County Public Library). Renovation projects are also picking up with the completion of renovations at the former Big Willie’s BBQ Restaurant in Dingman Township, now open as the China Buffet; the former Ups and Downs retailer in Milford Township, now open and fully occupied by both Frankel Foot and Ankle Center and Access Physical Therapy and Wellness; as well as both the Tom Quick Inn and the Milford Theatre in Milford Borough. This year also saw the completion of renovations at the Westfall Towne Center to allow the much anticipated opening of Majestic Cinema. Renovations are also currently underway for Aliton’s Pharmacy across from the Apple Valley Restaurant and retail center in Milford Township and the former Pocmont Resort, set to reopen this winter as the Bushkill Inn and Conference Center in Lehman Township.
This flurry of capital investment by business demonstrates an uptick in the local real estate and commercial construction market and a positive sign for the local job market going into 2012!