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FRASER, PA-RedGo Developments' plans for the 24-acre Three Tun Business Center it acquired in mid-2006 have been given a jump start with a full-building, seven-year lease by Clyde Bergemann Delta/Ducon. The global pollution controls conglomerate is moving into the 13,000-sf first floor of the 17,800-sf office building and will occupy the full building within a year.

This is one of two existing buildings in the park at the time of West Chester-based RedGo's acquisition of the center at 33 Sproul Rd. from Whitford Worldwide for $4.4 million, as GlobeSt.com previously reported. A team from the Wayne office of CB Richard Ellis represented RedGo and the tenant in the negotiations. Team members are associate Mitch Reading and senior associate Paul Touhey, assisted by SVP Steve Italiano.

Neither CBRE nor RedGo would disclose the value of the lease. However, on condition of anonymity, an area industrial broker confirms to GlobeSt.com that the asking rate for this renovated office space is in the range of $16 per sf. The building was built 25 years ago, and RedGo's repositioning took it down to the shell for renovations.