Fraternities and sororities are big business in Lawrence, and I’m not just talking about T-shirts and tutoring lessons in the Greek alphabet. Lawrence-based Pennington & Company is one of the larger fundraisers for fraternities and sororities in the country, and now the firm has inked a deal to buy the office building at 501 Gateway Drive that houses Minuteman Press.

The deal continues a trend of the company grabbing office space in the area just north and east of Sixth and Kasold. Pennington already has office space in part of the 501 Gateway building and also leases an entire building across the street on Mesa Way. The company plans to keep that space as well.

Patrick Alderdice, president and CEO of the company, said the company needs more space because employee totals continue to grow. By June 1, the company will have 80 employees. That’s up from 46 employees in 2010 and six employees in 2000. The company has been one of Lawrence’s hidden growth stories, and Alderdice said he expects the growth to continue.

“We got our start working with organizations here at KU, but now we’re really coast to coast,” Alderdice said.

The company works with more than 550 fraternities and sororities across the country. (Can you imagine what his T-shirt drawer looks like?) The company primarily assists the organizations with raising funds to build new houses, expand existing ones, or to help the organizations boost their endowment or scholarship funds.

The company, though, has started to expand into new markets. Alderdice said it is beginning to work with private schools and churches on their fundraising needs.

The office deal does mean changes are in store for Minuteman Press. But don’t worry; the company is going to remain in business. Owner Dee Bisel has signed a lease for space at 1404 E. 24th St. That is one of the industrial buildings right near the Lawrence Kia dealership on 23rd Street. Bisel said the printing shop will be moving on May 28-29, and will be open in the new location shortly thereafter.

“Everything will remain the same with the type of services we’re offering,” Bisel said.

The company is a digital print shop that does postcards, business cards, banners, direct mail pieces, stationery, envelopes, posters and other such items that businesses rely on.

Bisel has been at the 501 Gateway location for 18 years. She said she decided to sell the building because the opportunity was just too good to pass up. She said business at the shop has bounced back strong since the economic downturn of 2008-2010.

“The last three years have been outstanding,” Bisel said. “We just recently got a new contract that we’ll be doing from that location. We’re excited about that. We think we’re going to have another banner year.”

In other news and notes from around town:

• Motorists on West Sixth Street are likely going to have a new traffic signal to deal with in the future. City officials are starting the process to install a traffic signal at Sixth Street and Champion Lane. If you don’t know where Champion Lane is, you’ve evidently never had a Starbucks coffee in one hand and a Taco Bell biscuit taco in the other while driving with your knee and somehow still texting your buddy to ask him if he knew you could now get a taco in a biscuit. In other words, Champion Lane is the road that leads to Starbucks in the Bauer Farm development, and is just east of the Taco Bell on Sixth Street.

City officials say that as traffic volumes into and out of the Bauer Farm development grow — Sprouts, the new grocery store, is set to open July 1 — the need for a traffic signal is increasing. It will take awhile, though, for a traffic signal to emerge on the site. The project is estimated to cost about $400,000. The city will fund $250,000 of the project, primarily with one-time funds the state provided the city as part of an agreement in which the city will take over the full maintenance responsibilities for Sixth Street. The state previously provided some annual maintenance dollars for Sixth Street because it served as U.S. Highway 40. The remaining $150,000 is set to come from property owners near the intersection. The city is establishing a benefit district where property owners can pay their share of the project through a special assessment on their tax bills.

It looks like it will be mid-August before the process to create that benefit district is completed. No word yet on whether the city will install the traffic signal shortly thereafter, or whether it will wait until later in 2015 or early 2016. The project also is scheduled to include some new sidewalks and a crosswalk.

• While we’re talking about Sixth Street, I’ll throw in this reminder about what is going on at the former Spangles location. The former fast food diner at 3420 W. Sixth St. has been demolished. As we reported in April, the location is set to become a MedExpress urgent care center. You’ll be able to walk into the clinic to receive treatment for all types of ailments, presumably including an unfortunate mishap while creating your own Mexican breakfast sensation, the Pop-Tart chalupa.