A $2.25 million Pennsylvania Industrial Development
Authority loan has been approved for a 105,000-square-foot building in
Lancaster's Gateway Business Center, according to the EDC Finance Corp.
Lancaster-based Oak Tree Development Group LLC is leading
the construction of the multitenant facility, which will sit on 8 acres at
Manheim Pike and Dillerville Road and cost more than $6 million.
EDC Finance, an affiliate of the Economic Development Co.
of Lancaster County, secured the loan for the project.
The building will have five flex spaces with 28-foot
clear ceiling height. Two of those spaces, spanning 40,000 square feet, have
already been leased to unnamed tenants.
Construction of the facility is expected to be completed
in the second half of the year, according to EDC Finance.
It will be owned by a partnership named 1170 Garfield
Avenue LP. Names of the partners were not disclosed.
Fulton Bank will provide the rest of the financing needed
for the facility.
The building is being designed by Bernardon Haber
Holloway and land planner David Miller/Associates Inc.
Wohlsen Construction Co. is the general
contractor and Tom McDermott from NAI Commercial Partners Inc. is the leasing
agent.
Source: Central
Penn Business Journal
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