LYSANDER — PaperWorks Industries, Inc. is moving into a new space in Lysander that nearly triples its operating capacity. Paperworks is a Bala Cynwyd, Pennsylvania–based firm that produces specialized folding cartons. The company signed a lease for more than 492,000 square feet of space in a warehouse located at 2900 McLane Drive in […]
LYSANDER — PaperWorks Industries, Inc. is moving into a new space in Lysander that nearly triples its operating capacity.
Paperworks is a Bala Cynwyd, Pennsylvania–based firm that produces specialized folding cartons.
The company signed a lease for more than 492,000 square feet of space in a warehouse located at 2900 McLane Drive in Lysander.
Paperworks has been operating in a 175,000-square-foot space at 8800 Sixty Road in Lysander, according to its website.
Dennis Hennessy, vice president of COR Brokerage, announced the lease agreement in a May 29 news release.
“They expanded their operation in Baldwinsville … because business is going well,” says Hennessy.
The lease took effect June 1, Hennessy told CNYBJ in a phone interview.
Both sides completed the lease arrangement in late April, he added.
“I was able to … get an owner who was willing to work hard to put a deal together and a tenant who was … in need of … all [its] Syracuse operations under one roof,” says Hennessy.
The deal involved between six and seven months of negotiations. Hicker flew in from Southern California, and the PaperWorks CFO traveled to Central New York from the Philadelphia area.
“They had a very cordial meeting,” says Hennessy. “It was an all-day meeting.”
In the news release, Hennessy called it “one of the largest industrial warehouse leases ever brokered in Central New York.”
Hennessy represented Orangeball, LLC, the entity that owns the property, he says. Mark Rupprecht, senior broker in the Syracuse office of CBRE, Inc., represented PaperWorks, he added.
CNYBJ requested comment from PaperWorks Industries Inc. but the company didn’t respond to an inquiry before press time.
PaperWorks’ long-term commitment, which extends through 2032, is a “tremendous win” for the Syracuse area, George Hicker, managing partner of Orangeball, said in the COR news release.
Hicker is also known for his days with the Syracuse University men’s basketball team between 1965 and 1968.
Besides his role in the ownership entity Orangeball, Hicker is the founder and president of Sherman Oaks, California–based Cardinal Industrial, according to its website.
The company owns a portfolio of “mostly industrial warehouse assets located throughout the United States containing approximately 14 million [square feet], valued in excess of $600 [million],” the website says.
The Lysander location of PaperWorks is its “largest” in North America, according to the COR news release. The firm currently employs more than 250 Central New York residents.
The site was once the local home of the Bloomfield, Colorado–based Ball Corp., which is a provider of metal packaging for beverages, foods and household products. It also provides “other technologies and services to commercial and governmental customer,” its website says.
Ball has since sold the division that had operations in Lysander and ceased those operations, according to Hennessy.
