Roddy Inc., the Bensalem based industrial and commercial real estate brokerage firm represented The Sapling Company, Inc. in the $3,200,000 acquisition of a 65,150 sq. ft. facility located at 670-682 Louis Drive, Warminster Industrial Park, Warminster, Bucks County, PA.
The facility situated on 3.74 acres will offer Sapling 15,600 sq. ft. of office area, 49,550 sq. ft. of manufacturing/warehousing space, 20’0” clear ceiling heights, multiple tailgate loading docks and drive-in doors, parking for 75 automobiles and approx. 70% of air-conditioned space. Roddy advised that substantial improvements will be made to the property at a cost in excess of $1,200,000.
Ilan Shemesh, President of The Sapling Company, Inc., advised they utilized two financing programs provided by the Commonwealth of Pennsylvania—1) The Industrial Revenue Bond program, which is administered at the local level by the Bucks County Industrial Development Authority and 2) the Pennsylvania Industrial Developmental Authority (“PIDA”) program, which is administered locally by the Bucks County Economic Development Corporation.
Further, Mr. Shemesh advised that within three years the company anticipates employing 43 people at the facility and that the capital improvements should be completed by January 2017 with production commencing shortly thereafter.
Sapling Inc. has been a pioneer in synchronized timekeeping systems for over two decades. Sapling clocks can be found in schools, hospitals, transportation centers and corporations throughout the country and all over the world. Sapling features a complete line of analog and digital clock products for wired clock systems, IP clock systems and its patented synchronized wireless clock system. Sapling’s mission is to supply quality products backed by state-of-the-art technology and first-rate technical support. All of Sapling’s clocks are engineered and assembled in the United States at its Pennsylvania headquarters.