P ennsylvania

S hopping C enters

Real Estate Journal — Pennsylvania — Section C


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


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


Binswanger’s Torsiello & Pennington negotiate sale of 93,000 s/f industrial facility on .91 acres in Philadelphia


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-



Mike Torsiello

Chris Pennington

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