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JANUARY 2023

NOTEWORTHY NEWS

bob cormack peda awardPhoto L. Michael Ross, President, Franklin County Area Development Corporation and Bob Cormack.


BCEDC Executive Director was Awarded Economic Developer of the Year

Bob Cormack was awarded “Economic Developer of the Year” by the Pennsylvania Economic Development Association (PEDA).

Bob has a career of more than 40 years in economic development, currently 33 years as Executive Director of the Bucks County Economic Development Corporation (BCEDC). Under his leadership, BCEDC has consistently been among the most impactful and influential Certified Economic Development Corporations (CEDO) in the Commonwealth. No CEDO has successfully sponsored and administered more (Pennsylvania Industrial Development Authority (PIDA) loans during his tenure. The PIDA loans represent tens of millions of capital investments and the creation and retention of thousands of jobs across Bucks County.

SPOTLIGHT ON BUCKS


BCEDC – Working to Keep Bucks County Economically Strong!

Since 1958 BCEDC’s mission has been to support economic growth in Bucks County. Despite economic challenges, inflation and the remnants of a global pandemic BCEDC continued to support Bucks County. The highlights below are only part of the BCEDC’s successes for Bucks County.

THE BOTTOM LINE


What is an Enterprise Business Text Messaging Solution & Why Does Your Company Need One?

An enterprise business text messaging platform is a software application, accessible via a computer or laptop through a downloadable app or browser, that allows a business to send SMS and MMS text messages at scale to customers and prospects.

FINANCIAL TOOLBOX


PIDA Rates Remain Unchanged for First Quarter of 2023

Below are the updated 2023 first quarter interest rate options for qualifying PIDA loan applications. These rates are in effect for loan applications received through March 31, 2023.

For Real estate loans financing eligible land and building costs, borrowers will have the following interest rate options:

BCEDC BUSINESS HAPPENINGS


PIDA Loan Awarded to Tesco – The Eastern Specialty Company

A PIDA loan for $2,250,000 was awarded to Tesco – The Eastern Specialty Company, manufacturer of equipment for the electrical metering segment of the utility industry, serving almost all the electrical utilities in the country.

MEMBERS' CORNER


Joanne M. Murray, BCEDC Member, Receives Bucks County Bar Association Honors

A Partner of Antheil Maslow and MacMinn, LLP was honored with an award at the Bucks County Bar Association’s annual meeting on December 1, 2022. Joanne M. Murray, a partner and chair of the Firm’s corporate and real estate practice group, received the prestigious 2022 Harriet M. Mims Award.

NEW MEMBER


New BCEDC Member Michael Borski, Jr., The Flynn Co., and Team Represent Velocity Ventures with Their Newly Purchased Building in Bucks County.

Michael Borski, Jr. is a commercial real estate agent with The Flynn Company and has successfully negotiated more than $350 Million in industrial and office leasing and sales transactions. In the last year alone, he has brokered over 425,000 SF of deals.

COMPANIES ON THE MOVE


Justin Bell and His Team Represented the Seller in the Disposition of the County Line Commerce Center, Warminster.

Justine Bell, Newmark, and his team; Mitch Russell, Michael Margolis, David Dolan, Ryan Guittare and Angelo Brutico represented the seller, Balashine Properties. The buyer was Velocity Venture Partners Bala Cynwyd, PA. The 450,000 square foot industrial/office campus located at 101-125 County Line Road, Warminster Township was previously the Fischer & Porter manufacturing complex. In the early 2000 the site was converted to office space.

COMPANIES ON THE MOVE


High Occupancy Rates in Smalls Spaces with Room to Grow

The Perkasie Industrial Center completed the following new leases and extensions:

Eric & Christopher leased 6,695 square feet and now occupies 23,185 square feet. Free Will Brewing leased 5,730 square feet and now occupies 25,918 square feet. The remainder of the facility is leased to North Penn Machine Works, & Remedy and Pulse Anatomical.

COMPANIES ON THE MOVE


Bucks County Information on Leases or Renewals for the Last Three Months

Bucks County information on leases or renewals for the last three months submitted by BCEDC Real Estate Members; Brode & Brooks, Roddy, and The Flynn Company.

BRISTOL
Industrial
Industrial
Industrial
Industrial
Grand Total
Sq. Ft.
20,560
53,696
30,529
15,362
120,147
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