Locally based Sant Properties purchased the property for areported $7.2 million last year and later sold a 500,000-sf portionof the building to Frankford Candy and Chocolate Co., also basedhere. HBF Properties, a Sant partnership, plans to turn theremaining 180,000 sf into office and warehouse space for lease.

Peter Longstreth, president of PIDC, tells GlobeSt.com that HBFreceived a $660,000-loan under the Pennsylvania IndustrialDevelopment program, for its $3-million upgrade of that portion ofthe property. Using the same PIDA loan program, Frankford Candyobtained $1.25 million in financing for its $17-million total costof acquisition and renovation at the site, according toLongstreth.

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