PERKASIE — Fres-co System USA has entered into a long-term lease for the first building in the Pennridge Airport Business Park.
Headquartered in West Rockhill, the 42-year-old Fres-co makes flexible packaging.
"Our company is growing and this large industrial distribution space will allow us to continue providing exceptional service to our customers," Fres-Co Chief Financial Officer Mark Stinson said in a release announcing the lease of the 101,920 square foot building.
"We welcome Fres-co System USA, Inc. as a substantial industrial anchor tenant to the Pennridge Airport Business Park. I am also delighted to share that site construction will begin immediately on the second 100,000 square foot building — as demand remains high for industrial space in and around the greater Philadelphia market," Rob Brink, president of Pennridge Development Enterprises, Inc., the business park's owner, said in the release.
The plans for the $60 million business park adjacent to Pennridge Airport on Ridge Road include six industrial buildings on 88 acres, with the first two in Perkasie and the other four in East Rockhill.
"We welcome Fres-co Systems, USA to Perkasie Borough as a leading manufacturer and job creator for our community. The Pennridge Airport Business Park is a strategic investment in our community to court new high-tech manufacturing to Perkasie and to allow our existing specialty industries a space to continue to grow and expand within our community," Stephen Barth, president of the Barth Consulting Group, which does economic development consulting for towns including Perkasie, said in the release.
In a separate interview for this article, Barth said about 20 employees doing warehousing and distribution work will initially be working at the Fres-co site in Pennridge Airport Business Park.
Fit-out work to move into the building is currently being done, he said.
"They'll probably be in in the next couple months," he said.
Construction of the business park is funded in part by a $2 million state grant from the Pennsylvania RACP (Redevelopment Assistance Capital Program).
"One of the key drivers for growth within the Greater Philadelphia industrial market is the demand for new, Class A space from existing occupiers which need to accommodate growth within the market they currently occupy and can recognize the efficiencies of modern space. The long-term lease with Fres-Co System USA continues to illustrate this pent-up demand and why projects like the Pennridge Airport Business Park have a tremendous runway for success," Tom Golarz, of Colliers International, which represented Pennridge Development Enterprises in the transaction, said in the release distributed by Colliers. CBRE Inc. represented Fres-Co.
"The Pennridge Airport Business Park is a long-term commitment in Perkasie Borough that will create and sustain new jobs and industry for many years as well as providing substantial new tax revenues for the area school district," Brink said in the release. "We are proud the Pennridge Airport Business Park Development has funded and implemented a major safety improvement for the community by dramatically improving visibility on the Ridge Road and Tunnel Road intersection. I want to personally thank the Perkasie Borough Council and management for their support throughout this process."