Hankin Group has started construction on the next phase of Haywood Business Park in Exton, writes Paul Schwedelson for the Philadelphia Business Journal.

This stage will cost $12 million and include 70,000 square feet of new flex industrial space specifically designed for light manufacturing and assembly, warehouse, and research and development. The developer is constructing two buildings, each of which will span 35,000 square feet.

Hankin Group has already started marketing the first building, which will have 54 parking spaces, 20-foot clear heights, and 45-foot column spacing. It will feature a minimum of four dock doors with the option to add up to ten more.

The Exton company is developing both buildings speculatively without any leases signed.

Meanwhile, Wilmington-based Allied Properties has managed to secure a $45 million loan for the Brandywine Square Shopping Center in Downingtown.

The 608,000-square-foot shopping center is anchored by Wegmans, BJ’s Wholesale, and Dick’s Sporting Goods, among others.

The loan that has already been secured from a life insurance company will go toward the property’s mortgage. Read more about the local real estate projects in the Philadelphia Business Journal.