ALLENTOWN, Pa. (AP) -- Mack Trucks has agreed to sell its 38-year-old office complex in Pennsylvania as it relocates its headquarters to North Carolina.
Terms were not disclosed but Mack says it has reached an agreement with New Jersey-based J.G. Petrucci Co. to buy the Mack World Headquarters complex in Allentown. J.G. Petrucci will lease part of the building back to Mack temporarily while it completes its relocation.
J.G. Petrucci is an Asbury, N.J.,-based developer and builder of commercial and industrial real estate. It also has offices in Bethlehem. Principal Greg Rogerson says the remaining space in the Mack headquarters is expected to be available for lease in 2010.
Mack is undergoing a restructuring that includes moving 580 jobs from the Allentown area to Greensboro, N.C. Mack's parent company, Volvo AB, has its Volvo Trucks North America facility in Greensboro.