Monthly Archives: September 2017

Agracel Building Sells

Bedford Industrial Center – Manufacturing Facility

Bedford Industrial Center – Manufacturing Facility

Bedford, PA – The Agracel Industrial Center, located in Bedford Township, recently sold to new owner
550 Sunnyside Road, LLC.

Agracel Inc., based in Effingham, Illinois, purchased the former Hedstrom facility in 2006. The
property had been vacant since Hedstrom’s closing in 2004.

“During our 11-years of ownership, we made significant investments in the property to make it an
attractive home for companies seeking manufacturing and distribution space. Our first tenant was
Morton Metalcraft and with the help of Bette Slayton and the BCDA team, we were successful in
securing Defiance Metal Products, Pomp’s Tire and Kennametal as long term tenants at the
facility,” noted Ryan Witges, Executive Vice President, Agracel.

“We strategically sell a few assets every year and the timing was right to find a buyer and move on
to the next investment. The property is positioned for long term success and we feel confident in
the new owner’s ability to continue the great relationship with the tenants and the Bedford
region,” Witges added.

The 470,000-sq. ft. facility, which sits on 37 acres, sold for $8.9 million. There is approximately
10,000 sq. ft. of office space available for lease.

Dana Newton, Senior Associate with Marcus & Millichap, represented the buyer. “Agracel has done an
excellent job restructuring the industrial property to facilitate the needs of Defiance
Metals, Kennametal and Pomp’s Tire. The new owner, recognizes this high standard and intends to
maintain and even improve upon the relationship with these key pillars of the Bedford business
community,” Newton stated.

“A long term strategic investor, the new owner intends to hold and improve upon this asset by
continuing to work with BCDA on the lease up of the remaining office space and by exploring the
potential for additional expansion in the Bedford community,” Newton added.

Bette Slayton, President, Bedford County Development Association noted “We’ve worked with Agracel
since they came to Bedford County in 2006.  They took a large, vacant industrial building off the
market and have made significant improvements to the building during the past decade.  Agracel
created high quality space for local and out-of-area employers. We appreciate all that they’ve done
to support Bedford County.  It’s truly been a pleasure working with them.”

BCDA now looks forward to partnering with the new ownership. “550 Sunnyside Road, LLC is pro-active
and committed to quality. They will be an excellent addition to our community. We’re excited about
working with them,” Slayton said.
For more information,please contact:

Bette Slayton, President
Bedford County Development Association
P: 814.623.4816
E:  slayton@bcda.org

Dana Newton
Marcus & Millchap
P:  215.292.7145
E: Dana.Newton@marcusmillichap. com

Ryan Witges Agracel,Inc.
P:  217.342.4443
E: rwitges@agracel.com

 

BCDA celebrates an active, successful year of economic development

(l-r) Bill Liedholm, General Manager, Omni Bedford Springs Resort & Spa; Doug Gerber, Chair, BCDA; Bette Slayton, President, BCDA; Gregory F. Krug, President/CEO, Lampire Biological Laboratories; Representative Jesse Topper and Congressman Bill Shuster.

(l-r) Bill Liedholm, General Manager, Omni Bedford Springs Resort & Spa; Doug Gerber, Chair, BCDA; Bette Slayton, President, BCDA; Gregory F. Krug, President/CEO, Lampire Biological Laboratories; Representative Jesse Topper and Congressman Bill Shuster.

BEDFORD, SPRINGS — The 2017 Annual Meeting of the Bedford County Development
Association was a celebration of accomplishment and promise for the future of economic growth in
Bedford County and the region.

Held at the Omni Bedford Springs Resort and Spa on August 11, 2017, the program was introduced by
Doug Gerber, plant manager at Rex Heat Treat, and chair of the BCDA board.

“2017 was a strong year for the BCDA and all of Bedford County,” said Gerber. “It was an active
year in which growth was the hallmark of the economic development community.”

Following introductory remarks, Gerber welcomed Congressman Bill Shuster to the meeting.

“A lot of great things are happening in Washington,” Shuster began. “But there is great frustration
dealing with bills that die in the Senate. I feel the frustration of the voters in my district. We
need significant, serious tax reform. We’ve got to focus our efforts.”

In addition to tax reform, Shuster noted, “the nation needs to pay attention to infrastructure
improvements. We may try to replicate what is being done in Australia with asset recycling. The
privatization of infrastructure may be one answer.”

State Representative Jesse Topper, 78th District, provided the state perspective.

“The Bedford County Development Association is the boots on the ground in economic
development,” Topper said. “Our state budget can be passed without a tax increase. We need to make
real difficult choices, not just continue to kick it down the road.” He believes public pension
plans need to be revised . “We have $60 billion in liability. We need a new system that reflects
the real world. We need a sustainable solution to reform Medicaid.”

Bette Slayton, BCDA president , delivered a “Year in Review” report which included a broad array of
BCDA’s activities in financing, real estate development, marketing, workforce
development and education, business retention, entrepreneurial development and networking.

Gerber introduced Gregory Krug, president and CEO of Lampire Biological Laboratories who
delivered the meeting’s Keynote address. It was titled “Growing the Life Science Industry in Bedford
County.”

Krug is a visionary who sees the incredible potential for growth in the highly skilled
biotechnology industry. His decision — made in 1989 — to create a facility in Bedford County is
likely to have a long-lasting, positive impact on the Bedford County economy.

“I feel very close to Bedford County,” Krug said. “We are attracting companies from all over the
world to Bedford County. Healthcare throughout the world is benefiting from the work that is being
done at Lampire.”

Lampire is a multi-million-dollar  company that is creating lifesaving, life sustaining diagnostic
tools, pharmaceuticals, environmental products and cosmetics, among others.

Krug said that his desire for the company to have a strong farm presence led him to Bedford County.

“We have invested millions of dollars in our Bedford County facilities,” he said. “That includes
400+ acres of farmland and 5,000 animals.”

Krug has been a strong advocate for the creation of training and educational programs to develop a
skilled workforce that can sustain Lampire’s future growth.

“We hire scientists of many types,”Krug said. “Immunologists, biologists, microbiologists,
chemists, molecular biologists and veterinarians. We are developing our workforce to be
competitive on a global level. We are a global business.”