Major New Tenant Commits to American Philatelic Center

Graymont, the third largest lime company in North America, has signed a long term agreement for space at the American Philatelic Center in Bellefonte, Pennsylvania. The American Philatelic Research Library and American Philatelic Society have agreed to renovate 7,200 square feet of space for Graymont's Eastern U.S. Regional Offices. When Graymont occupies the space next spring they will become the eighth tenant and use more space in the complex than all but the American Philatelic Society and American Philatelic Research Library.

This lease, which will result in a positive cash flow from day one, is a much anticipated step toward the completion of the Match Factory complex, and one that will significantly decrease the amount of unoccupied space.

The first phase of the American Philatelic Center, completed in July 2003, provided about 15,000 square feet of space for tenants that is occupied by Holiday Financial, Jackson Hewitt Tax Preparation, State Senator Corman's District Offices, the County Bar Association, Tapestry of Health and Hugh Wood, Inc. The American Philatelic Society and American Philatelic Research Library moved into 40,000 square feet when Phase 2 of the APC was completed in May 2004.

With major donor support 3,800 square feet was subsequently renovated and available in November 2005 for educational facilities, meeting and seminar space. This space is used for Society events such as the Annual Summer Seminar, Postal History Symposium, and the Classics 2009 and Aerophilately 2007 events. When not needed by the Society, the space is rented out for about 100 events each year including wedding receptions, high school reunions, jazz concerts and play productions.

The most recent renovations completed in January 2008 included 600 square feet for the Headsville Post Office and 3,000 square feet for another tenant, Phoenix Rehabilitation.

The American Philatelic Center maintains 100% occupancy of all renovated space with only one change in tenants since opening. The renovation of space for Graymont will also provide access to an additional 15,000 square feet that is available to be renovated as additional tenants are acquired.

The American Philatelic Society and American Philatelic Research Library look forward to announcing the completion of this portion of the American Philatelic Center and the arrival of their new tenants.

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