The largest loans have been provided to projects in Bucks andClinton counties, while the largest facility will be a 105,000-sfheadquarters on 7.8 acres in Philadelphia. On that project, PearlPressman Liberty Communications Group Inc., a printing and graphicarts company, will receive a $108,000 PIDA loan to acquire andrenovate an existing building.
The $5.7-million Pearl Pressman Liberty project will create 18jobs and 147 existing employees will be transferred to the newsite, according to a release. The Philadelphia IndustrialDevelopment Corp. is the sponsoring agency for this project.
Jim Lerner, EVP of Pearl Pressman Liberty, tells GlobeSt.com hecannot provide details on the project unless authorized to do so byPIDA or the commonwealth agency that's issuing a separate loan tothe company. However, a PIDC source says Pearl Pressman Libertywill relocate from its current facility at 912 N. Fifth St. to 7625Suffolk 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.
