The banking firm spent the better part of 2012 negotiating with the Alvin H. Butz organization to expand their presence, said CEO and President Robert Rupel.
The Butz company owned the building through GSE Realty East, which sold the building at 3001 Emrick Blvd. in Bethlehem Township to Team Capital in late December. The bank previously leased space in the building, but now owns the entire site, which includes DeSales University Easton Area Campus and Brown & Brown of Lehigh Valley Inc. as two other major tenants.
"At the end of the day, it just made sense to buy the whole building," said Rupel. "As the bank continues to grow, it will need more space."
The company added about 13 new employees in 2012 and plans to add 10 new employees in 2013, said Rupel.
Team Capital will reconfigure the building to provide more training space for staff and expand its information technology and corporate communications groups.
To read more, see the story in our 1/21 print edition.