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$60 Million Class A Industrial Development Takes Flight

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The Pennridge Airport Business Park Celebrates Building One Completion with Official Ribbon Cutting Ceremony

October 7, 2019 [Perkasie, PA] – Pennridge Airport Business Park has marked a significant milestone. At the end of last week, members of the development team, local and state officials celebrated the completion of the first building in this $60 million master-planned Class A business park with an official ribbon cutting ceremony. As a future home to integrated business – companies requiring R&D, pharma, or high-tech manufacturing, this exciting development offers enormous economic development and job creation potential for the region. 

On hand was Robert Brink, President of Pennridge Development Enterprises and distinguished guests Pennsylvania Senator Steve Santarsiero, Pennsylvania State Representative Craig Staats, Aliyah Stanger of the PA Department of Community and Economic Development and Perkasie Borough Manager Andrea Coaxum.

“Building 1 of the Pennridge Airport Business Park is the culmination of many years of hard work and could not have been achieved without the support of individuals from Perkasie Borough and the State of Pennsylvania. This is an exciting project which we are confident will bring jobs and industry to Perkasie Borough.” cited an official from property developer Pennridge Development Enterprises.

The business park, located at 1100 Ridge Road in Perkasie, Bucks County, PA is currently one of the only master-planned, multi-phase developments in suburban Philadelphia. Building 1, a 100,000 SF tilt-up construction industrial facility is now complete and awaiting tenant specific improvements while adjacent to it the site for Building 2 is fully entitled, pad-ready, and able to accommodate over 100,000 square feet. At full build-out, the campus will contain six buildings of approximately 700,000 SF and features proposed plans for a walking trail, hotel and brew pub.

Situated on the grounds of the Pennridge Corporate Airport (KCKZ), Pennridge Airport Business Park provides immediate access to the one of the region’s largest corporate airports and a 4,215’ paved runway. The site is located less than three miles from Route 309, which provides access to I-476 via both the Lansdale Interchange and the Quakertown Interchange. Route 309 also provides access to the Lehigh Valley and both I-78 and I-276.

Perkasie Borough, located in Bucks County, is a business-friendly community with a well-educated workforce, and high quality of life. 

“There has not been appreciable new development along the Route 309 corridor in decades. This project presents an opportunity for local companies to expand light manufacturing and warehouse operations.” cited Rose Penny, Director of Research at Colliers International who is the marketing partner for the Pennridge campus.
 
For more information, contact:
Tom Golarz, Vice President  +1 215 928 7577 | Tom.Golarz@colliers.com

 

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Colliers International (NASDAQ, TSX: CIGI) is a leading global real estate services and investment management company. With operations in 68 countries, our 14,000 enterprising people work collaboratively to provide expert advice and services to maximize the value of property for real estate occupiers, owners and investors. For more than 20 years, our experienced leadership team, owning more than 40% of our equity, have delivered industry-leading investment returns for shareholders. In 2018, corporate revenues were $2.8 billion ($3.3 billion including affiliates), with more than $26 billion of assets under management. 

Learn more about how we accelerate success at corporate.colliers.com, Twitter @Colliers or LinkedIn. 

 

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Tom Golarz

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Since 2017, Tom Golarz has focused on Class A and last-mile industrial opportunities within Greater Philadelphia and Southern New Jersey. His core focus is on the sale of land for development and/or redevelopment to Class A industrial logistics space as well as Landlord/Tenant representation both within the region and nationally. During his time at Colliers, he has been involved in over $500MM in transactions of various types including land, brownfields, sale leasebacks, and Landlord/Tenant representation assignments.

With experience in a range of transactions regionally and nationally, Tom’s core focus is complex transactions involving land and surplus real estate. He routinely works with both private individuals and corporate entities to evaluate their owned real estate holdings as well as with Landlords and their capital partners to evaluate/underwrite acquisition opportunities.

He has had transactions nominated for Philadelphia Business Journal’s Best Real Estate Deals in 2018, 2019, 2020, and 2021 and was a 2022 Rising Star nominee. Tom is a 2020 Colliers Everest Club Member which is awarded to the top 10% of Colliers brokerage professionals in the U. S. based on revenue production.

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Michael Golarz

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Outside of the Greater Philadelphia market, Michael leverages his years of experience to assist corporate clients in their evaluation of their real estate needs.  This facet of his business affords him the opportunity to understand national trends and factors which can affect his client’s real estate holdings and strategic planning. 

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