Grundy Commons, the home of TESCO since 1987, has been purchased by the company.
The complex of four buildings on Canal Street was built between 1880 and 1912 to be used as a woolen mill. It has a clock tower known to many as it welcomes visitors to the Bristol Train Station nearby.
TESCO purchased the property for $13.4m. The company makes electric meters and related equipment and occupies close to 200,000 square feet of the property which spans a total of 309,000 square feet. There are 15 other light manufacturing companies in the remaining space and include a whiskey distiller and a furniture manufacturer.
Tom Lawton, owner of TESCO, said that this purchase has secured the future of the company in Bucks County for the foreseeable future. He added that this purchase was a big relief, because if the building were no longer available to the company for its headquarters, it could have had detrimental results. Such purchases that assure the longevity of a company often require the need for Stationery printers for printing more Business Cards, Letterheads, and other corporate material.
TESCO was assisted in the purchase with a $10m tax-exempt loan from Bucks County Industrial Development Authority, which also contributed an additional loan of $1m. TJ Lonergan, deputy executive director, said that TESCO can now grow in that space and continue to thrive as a business.
Get a Free Quote for Business Cards Get a Free Quote for Letterheads Get a Free Quote for Stationery
Location
4411 New Falls Road
Levittown, PA 19056
Get Directions →
Phone
Hours
Mon: 8:30 - 5:00
Tue: 8:30 - 5:00
Wed: 8:30 - 5:00
Thu: 8:30 - 5:00
Fri: 8:30 - 5:00
Sat: Closed
Sun: Closed