Roddy Inc. Industrial & Commercial Realtors

Roddy Inc. represented Philbern Associates, LLC in June 2001 in the sale/leaseback of the Replacement Products Industries Corporation facility located at 510 Station Avenue, Woodhaven Industrial Park, Bensalem, Bucks County, PA. The property consists of 5.0 acres on which is located a one story, window manufacturing facility containing 85,605 square feet. The property was purchased by Joseph Di'Egidio for $1,900,000.00. Simultaneous with the purchase, Di'Egidio leased the entire 85,605 square feet back to PBJ Windows, Inc. (trading as REPCO) with the understanding that after one year subsequent to the sale, REPCO would reduce its square footage to 58,205 square feet. REPCO's new ownership has decided that its business is going extremely well and will require the 85,605 square feet therefore, Di'Egidio and REPCO entered into a long term lease covering the entire property calling for an aggregate rental in excess of $1,800,000.00.

Francis T. Roddy, President of Roddy Inc., who negotiated the original sale/leaseback and the new lease, advised that Di'Egidio, subsequent to the acquisition of the property, has made capital improvements including a new roof and upgrading of the building's exterior.

Headquartered in Bensalem Township, Bucks County, Pennsylvania, Roddy Inc. is a marketer, manager and developer of industrial and commercial real estate throughout eastern Pennsylvania and southern New Jersey. Their clients include regional, national and international companies and financial institutions. For more information about the company, visit the corporate website http://www.roddyinc.com

For further details, contact Frank Roddy at (215) 245-2600 or FAX (215) 245-2670.