Philly Pretzel Factory co-founders, CEO Dan DiZio and Len Lehman, recently purchased a warehouse neighboring the company’s headquarters in Bucks County for $4.3 million, writes Emma Dooling for the Philadelphia Business Journal.
The pair, along with investors from Pretzel 98 LLC, bought the warehouse at 1824 Byberry Road in Bensalem. The property features a 31,000-square-foot building on 2.5 acres of land.
Nearby, the 25,000-square-foot headquarters at 1525 Ford Road includes both offices and manufacturing areas.
Pretzel 98 LLC, which purchased the original headquarters for $1.3 million in 2017, was created to invest in real estate.
DiZo announced that Philly Pretzel Factory has enough space in its headquarters and will not be expanding operations into the newly acquired building.
The warehouse is currently occupied by the Texas-based cargo safety equipment production company, Gardian Holdings LLC. The building is under a long-term lease with the company.
Before Gardian Holdings, the property housed Leonard A. Feinberg Inc., a clothing company.
Philly Pretzel Factory currently owns 170 locations throughout the country. This includes standalone bakeries and shops within entertainment venues, train stations, and airports. The company is currently constructing 22 new stores.
To learn more about the strategic real estate move by Philly Pretzel Factory’s founders and what it signals for the brand’s future, read the full article in the Philadelphia Business Journal.
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