As it plans its own expansion, the Pennridge Airport Business Park has a new tenant.
Fres-Co Systems USA Inc. recently leased a more than 100,000-square-foot space at 500 N. Ridge Rd. in Perkasie. It is in the first of six proposed buildings planned for the business park.
Construction was completed on first building last October.
Colliers represented the landlord. CBRE represented the tenant.
The 43-year-old Fres-Co Systems, which is headquartered in nearby Telford, needed the space because of recent growth. The company specializes in flexible packaging, which it said is a fast-growing segment of the packaging industry as more companies look to more sustainable and cost-efficient packaging options.
Fres-Co serves the food and beverage industry as well as chemical and pharmaceutical companies.
In welcoming the new, large industrial tenant, Rob Brink, president of Pennridge Development Enterprises Inc. noted that the business park is also beginning its next expansion. Site construction will begin immediately on the second 100,000-square-foot building in the business park.
“We welcome Fres-co Systems, USA to Perkasie Borough as a leading manufacturer and job creator for our community,” said Stephen Barth, economic development consultant for Perkasie Borough. “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.”
Adjacent to the Pennridge Airport, the $60 million Pennridge Airport Business Park project plans 600,000 square feet of modern industrial space across six buildings on 88 acres at full build out.
Recently completed construction and the ongoing development of the next 100,000 square foot building is funded in part by a $2 million Pennsylvania Redevelopment Assistance Capital Program Grant, designed to promote new industry and job growth.