Client Success Story: McKees Rocks Industrial Enterprises
Rich Gasperini provided outstanding guidance and support throughout this complex transaction. His market knowledge and strong relationship with the buyer were instrumental in getting the deal done. Beyond completing a sale which we were very pleased with, SunCap’s RockPoint Industrial project will deliver a lasting economic benefit to the McKees Rocks community.
– Jim Lind, President
McKees Rocks Industrial Enterprises
Strategic Infill Redevelopment Site with Direct Rail and Barge Access
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Nichol Ave, McKees Rocks (Stowe Township), PA 15136
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Seller Rep - Land Sale
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70 Acre +/- Industrial Site
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1,000,000 SF of Heavy Industrial Buildings
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Submarket - West
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Ownership: McKees Rocks Industrial Enterprises (MRIE)
Challenge:
MRIE owned the site since 1950, using it primarily for bulk transloading via river and rail. The 70-acre property contained 1,000,000 SF of heavy industrial buildings, some over a century old. Industrial use began in the early 1900s, when the Pressed Steel Car Company manufactured railroad cars and later supported military production during World War II. MRIE built a strong reputation in the marketplace and operated a successful transloading and material-handling business in McKees Rocks for decades. However, the COVID-19 pandemic prompted the owners to reassess the site’s future as long-term demand for river and rail bulk transloading came into question.
Action:
Jim Lind, MRIE’s President, engaged Rich Gasperini to help the ownership group understand and evaluate their real estate options. They concluded the property was well-suited for industrial redevelopment and MRIE emphasized finding a buyer willing to act as a true partner given this challenging disposition would need the buyer to overcome numerous hurdles. The site’s age and brownfield conditions meant extensive due diligence and significant coordination with multiple stakeholders would be required. SunCap Property Group emerged as the ideal buyer, matching both the vision and execution capability needed for a project of this scale.
Result:
As part of its pre-closing activities, SunCap voluntarily enrolled the site in the Pennsylvania Land Recycling Program (“Act 2”) and obtained Special Industrial Area (SIA) clearance. SunCap also fully entitled the property and established a permitted master plan for 1.2 million square feet of new industrial space. An affiliate of SunCap Property Group acquired the site in May 2023. Since acquiring the property, SunCap has demolished all existing structures and prepared the site. Now called RockPoint Industrial, the former heavy industrial brownfield is ready for a new generation of industrial development.
Contact:
Rich Gasperini, Principal
Genfor Real Estate
Cell: 412-651-6888
Direct: 412-564-0752
rgasperini@genforrealestate.com
