Brokers tell GlobeSt.com the average rental rate for industrial space at the center is approximately $4 per sf.
PIDC provided Mothers Work with $2 million in financing for renovation of its space in the 70,319-sf Building 990 at PNBC. John Grady, senior vice president of PIDC, tells GlobeSt.com the loan consists of a $1-million PIDC economic conversion loan and a $1-million US Department of Housing and Urban Development 108 loan.
Mothers Work has outgrown its owned, 318,000-sf headquarters and manufacturing facility at North Fifth Street in Philadelphia. It will move some of its manufacturing operation to PNBC and boost employment there initially by 51 jobs with a projected expansion to 100 employees in the new location.
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