Three Tun Lease Surge Continues

Three Tun Lease Surge Continues

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Frazer, PA — Redgo Development is pleased to announce two new tenants at Three Tun Center in Frazer, Pa. Clyde Bergemann Delta Ducon, Inc., the global pollution controls conglomerate who previously leased 13,000 sf last year, is expanding from their first floor space to occupy the entire 17,800-sf building by year end.

The company also leased 6,000 sf of adjacent flex space at the park. Clyde Bergemann recently acquired Delta Ducon, and that staff is relocating from their Malvern headquarters. According to Mitch Reading of CBRE, who represented the tenant, the company plans to nearly double its staff here within five years. “The signing of this expansion space shows how pleased they have been with Three Tun Business Center,” he says.

Another new tenant, Fastenal, a distributor of industrial and construction supplies headquartered in Winona, Minnesota, signed a five-year lease for 4,480 sf in the same flex building as Clyde Bergemann. Taylor Young, of Conshohocken-based Beacon Commercial Real Estate, represented Fastenal in the negotiation. “We are pleased that this high-end flex and office product along the 202 corridor fills a specific gap in the market,” says Fred Goebert, Vice President of RedGo Development.

The 24-acre Three Tun Business Center was acquired by RedGo Development in mid-2006. Originally built over 25 years ago, RedGo’s repositioning efforts took it down to the shell for renovations. Two new single-story office buildings of 15,000 sf and 20,000 sf, respectively, will be completed by fourth quarter 2008. A second phase of new development at the park calls for two flex buildings – one 60,000 sf, and the other, 52,000 sf. They are scheduled for groundbreaking in early 2009, and RedGo is confident tenants will soon emerge. Goebert adds, “as we continue to focus on our strengths, the market benefits.”

615 Willowbrook Ln, West Chester PA 19382 Phone: 610.436.6100 Fax: 610.436.1186