BETHLEHEM, Pa. — A 40,000-square-foot building that recently served as the home of a large-scale business incubator for various food and beverage companies has hit the market.
The home of Factory LLC, at 315 Columbia St., is for sale at $5,757,000, according to a listing through NAI Summit, a commercial real estate firm based in Allentown.
Factory’s concept was to serve as a scale-up facility and investor for food, beverage and pet brands.
It listed some of its partners as Honey Stinger, Pipcorn, Partake, Sampler, Roar and Stuffed Puffs.
Stuffed Puffs, a confection company specializing in chocolate-filled marshmallows, recently closed its Bethlehem factory and announced its sale to Texas-based Mount Franklin Foods.
There was no word Friday on the fate of Factory LLC, and representatives did not respond to requests for comment on the listing or reports of recent layoffs.
The parking lot was empty and the building appeared dark Friday morning.
315 Columbia St Bethlehem by LehighValley Newsdotcom on Scribd
An innovation center
Opened in 2019 in a former Bethlehem Steel building, the launch of Factory LLC was said to underscore the importance of manufacturing in the Lehigh Valley.
Founded by entrepreneur Rich Thompson, the business was reported to have $250 million of investable capital, with a goal for Thompson and a team of operators to acquire equity stakes in client companies and partner with them to grow.
Owning an equity stake in a company gives an investor a measure of control over the business, with the control typically proportional to the percentage of ownership.
Factory LLC’s model was to be an innovation center, with services for clients covering everything from product development, packaging, design and engineering to supply chain logistics and marketing.
In February 2023, Thompson’s team also unveiled a 75,000-square-foot production facility at 157 N. Commerce Way in Hanover Township, Northampton County.
According to the Lehigh Valley Economic Development Corporation, that facility was designed to make products for the growing companies coming out of Factory LLC, as well as unaffiliated brands.
Months later, the facility was renamed as PennPak Solutions, with Thompson — who once headed Freshpet and the Meow Mix Co. — listed as its founder.
Building renovated in 2019
Originally built in 1940, 315 Columbia St. was purchased by Columbia Associates LLC in August 2017 for $1,865,000 and sold to Factory in May 2018 for $1, according to Northampton County property records.
Listings say Factory LLC fully renovated the building — located in a Qualified Opportunity Zone and Keystone Innovation Zone — in 2019.
The commercial real estate listing now describes the space as “an exceptional multi-use building ideally suited for a variety of tenants and industries.
The building is recently renovated, meticulously maintained, fully conditioned throughout, suffused with natural light, and boasts modern industrial finishes.”
'An innovative facility'
With the facility as a backdrop, Factory LLC over the years has been a primary sponsor and host of StartUp Lehigh Valley, a pitch competition designed to showcase entrepreneurship and innovation happening in the region.
This year, the competition moved out of Factory LLC's building, with Thompson saying he wanted to hand the contest off to another organizer, Lehigh University.
University Provost Nathan Urban shared approval of the move.
“We're looking for ways in which discoveries can lead to impact,” Urban said.
“Commercialization, formation of startup companies, is certainly one way where you can go from discovery to impact on the community and potentially impact on the world. And we see that as part of our mission.”
"The Factory is an innovative facility that had a lot of success in South Bethlehem working with local emerging food and beverage companies."Bethlehem Community and Economic Development Director Laura Collins
The home of Factory LLC was listed for sale Oct. 17 — days after this year’s StartUp Lehigh Valley concluded.
Factory LLC sponsored a $2,000 second-place award for the latest StartUp Lehigh Valley winners, alongside PennPak Solutions.
"The Factory is an innovative facility that had a lot of success in South Bethlehem working with local emerging food and beverage companies," Bethlehem Community and Economic Development Director Laura Collins said.
"We know a lot of these companies want to continue to operate in Bethlehem and the region. We are proud of the companies that have grown here and will continue to work to retain and expand our homegrown businesses throughout our city by taking advantage of economic development opportunities that exist."
