Sale of 522,000 Square Foot Building in Panattoni Business Center at Ballard Road

Tuesday, May 11th 2010

Wallkill, NY–President Container Group has purchased an industrial building located at 290 Ballard Road in Panattoni Business Center at Ballard Road, Wallkill, Orange County, New York. The company will be using the total 522,000 square feet for the manufacture and warehousing of corrugated containers. The site is rail served. More than 200 employees will be housed in the Center.

Jim Tully of CB Richard Ellis negotiated the transaction.

Within the Panattoni Business Center, there is approximately 90,000 square feet available in another building, which is 50% occupied by Corsicana Bedding, Inc. Panattoni Development Company has been the most active developer in Orange County, NY in the last 12 months. The firm has completed in excess of 1.1 million square feet of industrial transactions in the County.

Panattoni Development Company (PDC) is a privately held, full service development company founded in 1986. During the last five years, the firm has completed 75 million square feet of space worldwide. PDC has developed industrial, office and retail facilities in more than 200 markets. The firm is headquartered in Sacramento, California, and maintains offices throughout the United States, Canada and Europe.