Lenape Real Estate Partners, LLC, was approved for a 15-year, $423,000 loan at a 2% fixed interest rate to acquire and renovate a 14,705-square-foot multi-tenant building in Upper Southampton Township. The building is a condominium unit divided into three sections consisting 6,361 square feet of office space and 8,344 square feet of light manufacturing and warehouse space. The total project cost is $1.058 million, and the company anticipates 25 to 30 full-time jobs to occupy the facility once fully leased.
Wearforce North America, LLC, was approved for 15-year, $420,000 loan at a 1% reset rate to acquire a 22,485-square-foot building in Quakertown Borough. The company, a manufacturer of earthmoving and construction equipment, will continue to occupy its current unit while also expanding into the new unit which will allow for additional warehouse space and office space, used to grow the company’s North American administrative and sales team. The total project cost is $1.4 million, and the company will create 7 and retain 2 full-time jobs within three years.
Edon Composites, LLC, through Bucks County Economic Development Corporation, was approved for a 10-year, $1 million loan at a 1% reset rate to acquire a 58,810-square-foot building on 4.7 acres in Horsham Township. Edon Composites, a manufacturer of architectural fiberglass products, has leased the building for years and has agreed to purchase the property from the current owners. The total project cost is $2,585,000 and the company has committed to retaining 45 full-time employees.