Titus Station is the first acquisition of Refined Plastics LLC, a company that will occupy multiple industrial sites for advanced chemical recycling plants.
With site assessments complete, their first acquisition is Titus Station, an existing power generating station and usable buildings with plans to build a new, 200,000 ft² industrial building on the 200 acres of land.
Revenues will come from multiple lessees, including a pre-existing 15-year ground tenant, and existing billboard leases already in place.
Plastic News – 29 May
The land is also rail-serviced, and ready to attract transloading companies as tenants for industrial use.
Three companies have also expressed their interest to join as industrial tenants.
With local industrial real estate becoming scarce and in high-demand, Titus is one of the few properties in the region currently zoned as industrial land.
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Titus Station at 296 Poplar Neck Road, Berks County, Pennsylvania strategically oversees the US-422 corridor, which carries industrial U.S. traffic from Interstate 176.
This locale is primed to generate a steady flow of additional industrial leases throughout the U.S.’s eastern seaboard.
The first project in Refined Plastics’ pipeline, Titus Station, is part of the larger goal of building multiple stations that will turn municipal waste into virgin grade plastic pellets for sale to manufacturers.
Titus is adjacent to the Western Berks Landfill, which is authorized to input nearly 2,000 tons daily.
This high volume of plastic waste will be converted and sold by Titus to the open market.
By 2021, Refined Plastics plans to invest $120M to revitalize an existing power plant on the site to further increase land value. After Titus Station gets acquired, three existing 80 megawatt boilers with turbines will be recommissioned to provide renewable energy to the grid.
A new public water and public sewer system will be installed and connected to the existing facility, leading to property value to rise higher.
The U.S. Department of Commerce (the Economic Development Agency) has awarded $3,000,000 of financial assistance to Titus Station.
The award was received with a written acknowledgement from the Pennsylvania House of Representatives which highlighted Titus’ innovation in recycling waste and its efforts to lower global carbon footprints.
“This new multi-purpose building will help to reinvigorate the region after the closure of a large coal fire plant, and will create jobs for the people of Pennsylvania,” announced Wilbur Ross, United States Secretary of Commerce and investor.
An anticipated 180 jobs are expected to be created by the end of 2021.
The management group behind Titus Station has decades of successful experience in the funding, construction, development and technical operation of industrial projects.
Molecular biology expert, and CEO Joseph D’Ascenzo created and closed several large-scale commercial projects.
The team is using their experience to pioneer innovative power plants, built on high-demand industrial real estate.
The management of Titus Station has positioned the project to serve stakeholders through both long and short-time horizons.
Titus Station distributes portions of revenue from Titus’ revenue-generating activities.
Titus is providing an opportunity for private investment partners to join the leadership team in growing this company to its full potential. Interested parties can contact DigiMax at the contact info below to determine if this might make a suitable investment.
Published on finance.yahoo.com