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HARRISBURG, PA-Locally based Advanced Communications Agency Inc. has obtained approximately $6.8 million in state funding to construct a 215,000-sf printing plant and office complex on the former industrial site at Cameron and Herr streets. The total project cost is $28 million.
The project will put the brownfield land, which Gov. Ed Rendell describes as an "eyesore," back into productive use after 34 years of idleness. The funding includes approximately $1.4 million from the Governor's Action Team, $5 million from the Redevelopment Assistance Capital Program, and $350,000 from the state's Growing Greener II initiative.
David Dodd, president of Advanced, in a statement, credited the direct and indirect support of the governor and Dennis Yablonsky, secretary of the Department of Community and Economic Development, and said, "we are now able to overcome the site's challenges and start the process." Advanced will occupy a portion of the space and lease some to other tenants. A call to the company regarding occupancy and rental rates was not returned by deadline.
According to a first-quarter 2006 report from the Harrisburg office of CB Richard Ellis, the average asking rental rate for industrial space in Dauphine County is $3.99 per sf, the same as throughout Central Pennsylvania. In this county, it ranges between $3.92 per sf and $4.85 per sf, depending on the size of the lease, according to CBRE's most recent report, and the industrial vacancy in the county stood at 6.7%.
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