www.marejournal.com P ennsylvania S potlight S outheastern Buchwald and Henn secures loan on behalf of Contrarian Capital Management Mission Capital arranges $16.5 million in bridge financing for Valley Square in Blue Bell, PA M id A tlantic Real Estate Journal — Southeastern Pennsylvania — April 15 - 28, 2016 — 3C

B LUE BELL, PA — Mi ss i on Capi ta l Advisors announced that its Debt & Equity Fi- nance team arranged a $16.5 million bridge loan for Val- ley Square, a five-building, 289,194 s/f office complex located at 512 Township Line Rd. in Blue Bell. The Mis- sion Capital team of Steven Buchwald and Lexington Henn arranged the loan on behalf of Contrarian Capi- tal Management , a Connect- icut-based investment firm (“Contrarian”). After acquiring the complex in 2013 for only $8.5 mil- lion, Contrarian and operat- ing partner Corvest Realty Group implemented millions of dollars of capital improve-

ments at the property and substantially leased many of the upgraded buildings. “Because Valley Square was acquired at such a low basis, the property has a competitive advantage, as it provides a value alternative for office ten- ants looking for space in the submarket,” Buchwald said. “The sponsor has successfully repositioned the property, re- sulting in great leasing veloc- ity and momentum.” Originally constructed in 1983, Valley Square is located in the heart of Pennsylvania’s Montgomery County, 20 min- utes northwest of Philadel- phia. The property provides easy access to the PA Tpke. and other major thorough- fares. n

Valley Square

TCC & Clarion Partners acquire 90 acre site and begins construction on new industrial trade center in Lower Nazareth

LOWER NAZARETH, PA — Joint venture partners Trammell Crow Company

and Clarion Partners , a real estate investment m a n a g e r , announced the acqui - sition of a 90-acre site

Andrew Mele

located at 4815 Hanoverville Rd. in Lower Nazareth for the development of Leigh Valley Trade Center. Construction on the project will commence later this month on two class A speculative warehouse/ distribution buildings total- ing more than 1.2 million s/f. Clarion Partners has ac- quired the property on behalf of a commingled fund that it manages. “This project benefits great- ly from its strategic location on the east side of the Lehigh Valley industrial market, with close proximity to a deep, high quality labor force as well as immediate access to what is perhaps the most im- portant transportation infra- structure on the east coast,” said Andrew Mele , manag- ing director with Trammell

Leigh Valley Trade Center

Zingaro , VP with Clarion Partners. “This market has all the fundamentals to sup- port a project of this size and quality; demand for class A industrial space in the Lehigh Valley remains very strong across a variety of size ranges. The flexible, two- building design will allow us

to see a diverse mix of tenant requirements.” The project’s location along Rte. 22 in the Lehigh Valley provides immediate access to I-78 and I-476. The exist- ing highway infrastructure allows users to easily reach NY, Philadelphia and the rest of the Northeast. n

Crow Company’s NE Metro Business Unit. “TCC has a long history of delivering institutional quality, class A industrial real estate in the Valley and we look forward to starting this new project.” Building A will comprise 947,000 s/f with cross-dock loading, 36-foot clear height,

capacity for over 240 loading dock doors and car and trailer parking ratios that are well above current market stan- dards. Building B will total 297,000 s/f with rear loading and 32-foot clear height. “This is our third specula- tive industrial project with TCC in this area,” said Joe

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