The largest loans have been provided to projects in Bucks and Clinton counties, while the largest facility will be a 105,000-sf headquarters on 7.8 acres in Philadelphia. On that project, Pearl Pressman Liberty Communications Group Inc., a printing and graphic arts company, will receive a $108,000 PIDA loan to acquire and renovate an existing building.
The $5.7-million Pearl Pressman Liberty project will create 18 jobs and 147 existing employees will be transferred to the new site, according to a release. The Philadelphia Industrial Development Corp. is the sponsoring agency for this project.
Jim Lerner, EVP of Pearl Pressman Liberty, tells GlobeSt.com he cannot provide details on the project unless authorized to do so by PIDA or the commonwealth agency that's issuing a separate loan to the company. However, a PIDC source says Pearl Pressman Liberty will relocate from its current facility at 912 N. Fifth St. to 7625 Suffolk Ave.
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Paul Bubny
Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.
