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Real Estate Journal — Pennsylvania — Section C
www.marejournal.com
M id A tlantic
The HFF team represented the seller, Gramercy Property Trust HFF announces sale of 299,809 s/f 1400 Atwater Drive in suburban Philadelphia P HILADELPHIA, PA — HFF announced the sale of 1400 Atwater
looking Atwater Lake within the Atwater Corporate Center, the newest office development in the Malvern/Exton submar- ket. The five-story property has direct access to the Pennsylva- nia Turnpike via Route 29 and affords commuters easy access to the Greater Philadelphia area, including Philadelphia’s central business district ap- proximately 30 miles southeast and Philadelphia International Airport, located 35 miles away. Completed in 2013, the LEED Silver-certified building is fully leased to Endo Pharmaceu- ticals as its North American Headquarters.
HI-LIGHTS NOVEMBER 9 - 22, 2018 HRG’S SHIPPENSBURG OFFICE IS RELOCATING TO CHAMBERSBURG Dr., a 299,809 s/f, class A office building in the Philadelphia- area community of Malvern. The HFF team represented the seller, Gramercy Prop- erty Trust . Equus Capital Partners, LTD purchased the asset. 1400 Atwater was marketed in conjunction with a portfolio of office assets located in Florida, Illinois, New Jersey, North Carolina, Ohio, Tennes- see and Texas. 1400 Atwater Dr. is posi- tioned on a 24.84-acre site over-
1400 Atwater Dr.
Bell and Shupak of NKF complete a 120,000 s/f lease renewal in Norristown
NORRISTOWN, PA — Newmark Knight Frank (NKF) has announced that managing director Justin Bell and senior managing director Neil Shupak represented T- Squared Realty, LLC , the landlord of 1547 N. Trooper Rd. in Norristown, with a 120,000 s/f, long-term lease renewal for a longstanding tenant, Techni- Tool. T-Squared Realty, LLC, ini- tially hired Bell and Shupak to provide a Broker Opinion of Value and to assist with the sale or lease of the building. Techni-Tool occupied the entire building with a fourth quarter 2019 lease expiration date approaching. NKF provided a strategic plan of action to lever-
Justin Bell
Neil Shupak
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that is fully climate controlled. It includes six tailgate load- ing docks and 40’x40’ column spacing throughout. Larry Maister of JLL represented the tenant. “We are excited with the outcome and very happy to continue our relationship with Techni-Tool for the foreseeable future,” said Paul Weiss of T- Squared Realty. electric power and has 2,000 s/f of office space. The property is located in the Fairhill neighbor- hood with easy access to Lehigh Ave., I 95, Center City Philadel- phia and bridges into NJ. The transaction was han- dled by Mike Torsiello , VP and Chris Pennington , se- nior VP, both working out of Binswanger’s Philadelphia office.
1547 N. Trooper Rd.
age its local market knowledge, costs involved with leasing new space, relocating an operation of this magnitude, and the timing required to complete a relocation before the renewal notice period. All strategic goals were accomplished, there was no downtime in finding a
replacement tenant, and own- ership increased the value of its building substantially. The building sits on 26+ acres providing ample land for future building expansion when neces- sary. 45,000+ s/f is two-story office space and 75,000+ s/f of the building is warehouse space
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Binswanger’s Torsiello & Pennington negotiate sale of 93,000 s/f industrial facility on .91 acres in Philadelphia
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PHILADELPHIA, PA — On behalf of 3 S Proper-
in Philadelphia. The property was purchased
ture. With a little creativity, older properties like 3000 C Street can be reimagined and positioned to meet local needs well into the next century. I’m very excited and I think the people of Philadelphia will be as well.” said Desmond Smith, managing partner at When Op- portunity Knocks. The 5-story warehouse offers two loading doors, three-phase
ties , Binswa n g e r a n - n o u n c e d the sale of a 91,000 s/f i n d u s t r i a l wa r e h o u s e facility on .91 acres located at 3000 C St.
by When Op- p o r t u n i t y Knocks, LP. for $1.2 mil- lion. “It is important to look to the pa s t when considering for the fu-
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Mike Torsiello
Chris Pennington
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