6C — November 8 - 21, 2019 — Pennsylvania — M id A tlantic
Real Estate Journal
Driving ongoing expansion plan Spiezle Architectural Group moves to Springfield
Buccini/Pollin sells 705 General Washington Ave. Avison Young inks sale of 52,000 s/f flex building
SPRINGFIELD, PA — Spi ez l e Archi tec tura l Group, Inc. , an award-win- ning, 100% employee-owned, full-service architectural, plan- ning, interior design and land- scape architecture firm, an- nounced the opening of its new location at 900 West Sproul Rd., Springfield, a relocation of its Media, PA office. Respond- ing to continued growth, the Spiezle team designed a mod- ern, efficient space to accom- modate its increased services and staff. The larger space was built to fulfill the current and future needs of the firm’s expansion in all nine markets sectors, as well as the additional em- ployees necessary to support its strategic growth plan. The contemporary 4,600 s/f space can house 30 employees and features an open layout with modern furniture. The office was designed to optimize an abundance of natural light from windows located on all sides of the building. To encourage innovation and collaboration, the team is strategically located in areas along the office perimeter facing windows for maximum exposure to sunlight. Senior leaders enjoy open offices, and “hoteling spaces” are provided for visiting staff from other of- fice locations, private meetings or conversations. Highlights include an open workstation area, three conference rooms of various sizes, large interior library, collaboration spaces, a well-appointed pantry, and an on-site fitness center. The of- fice is within walking distance to many Springfield shops and restaurants. BETHLEHEM, PA — SVN|Imperial Realty fa- cilitated the purchase of 24.32 acres of land on 4301 Hecktown Rd in Bethlehem. The team of Cindy Mill- er and Tom Skeans of SVN|Imperial Realty rep- resented the buyer, Grace Church of Bethlehem, in the transaction. David Fretz of BHHS Fox & Roach – Allentown represented the seller, the Order of the Barn- abite Fathers. SVN|Imperial Realty has worked closely with Grace Church since August 2018 on the acquisition. The team created a full market as- sessment as set forth for the
705 General Washington Ave.
“This building was heav- ily pursued by investors be- cause of the growing rental demand spilling over from the neighboring King of Prussia market,” Gillespie said. “This flex market currently has a vacancy rate of less than 5%, which has been halved in the last two years.” The buyer plans to renovate the parking lot, roof and me- chanical systems.
NORRISTOWN, PA — Buccini / Pollin has sold 705 General Washington Ave. in the Valley Forge Business Center to a private investor for $3.325 million. The flex build- ing measures over 52,000 s/f and was 70% occupied by six tenants at the time of the sale. The sale was brokered by Adam Gillespie , an invest- ment real estate broker with Avison Young.
Spiezle's new space accommodates increased services, staff and design capabilities. Interior Lobby
Denholtz properties signs 38,510 s/f lease renewal in Lehigh Valley
One of three conference rooms
“The design of the new Springfield space mirrors our Hamilton, New Jersey head- quarters, which we occupied in 2017. We are very excited about our new Springfield office relocation as it plays a large role in the firm’s strategic plan for growth, and provides a great working environment for our employee-owners. overall, it’s an office that truly reflects
our creative and team-oriented culture,” said Thomas Per- rino , president and CEO. “This enhanced space provides us with the ideal atmosphere to fulfill our ongoing mission to continue serving our valued clients and develop new rela- tionships for years to come.” Spiezle’s first day of opera- tion in the new office was Sep- tember 3, 2019. $450,000. Miller represented the sell- er. Nataliya Semenovych from Keller Williams Real Estate represented the buyer in the transaction. The prop- erty sold for $450,000 and was quickly under contract and sold within 3-1/2 months. Lastly, SVN Imperial Re- alty completed the sale of 800 Main St., a 4800 s/f of- fice building in Stroudsburg to HFICO LLC for $372,000. S t e v e W i l s o n o f SVN|Imperial Realty rep- resented the seller, Lamp- lighter Associates. Rick Golden of USA Realty represented the buyer in the transaction.
7036 Snowdrift Rd. in Upper Macungie
offers immediate access to I-78 and the Northern Extension of the Pennsylvania Tpke. inter- change as well as PA Rtes. 33 and 309. “Record-high prices and limited availability in Lehigh Valley’s industrial markets have continued to drive strong demand for industrial space,” said Kristine Hurlbut , se- nior vice president of leas- ing at Denholtz Properties. “Through offering well-located and adaptable multi-tenant flex spaces like 7036 Snowdrift Road and 969 Postal Road in Allentown, we provide com- panies with spaces tailored to their needs and help them run their businesses more ef- ficiently in this competitive market.” Sean Bleiler of CBRE of Allentown represented Den- holtz Properties and Jody King of CBRE of Allentown represented UL Verification Services in the transaction.
UPPER MACUNGIE, PA — Denholtz Properties , a privately held, fully inte- grated commercial real estate development and investment company, announced a lease renewal with UL Verification Services for 38,510 s/f of flex industrial space at 7036 Snow- drift Rd. in Upper Macungie. With more than 120 years of experience, UL Verification Services is a global indepen- dent safety science company which helps companies dem- onstrate safety, confirm com- pliance, enhance sustainabil- ity, manage transparency, de- liver quality and performance, strengthen security, protect brand reputation, build work- place excellence, and advance societal well being. 7036 Snowdrift Rd. is a 96,235 s/ft flex industrial building located on 8.47 acres in the Iron Run Business Cam- pus in Upper Macungie.The property’s strategic location
SVN|Imperial Realty facilitates acquisition of 24.32 acres church’s architect and mar- keting team. A meticulous search for property along with extensive research was conducted to ensure the church and its parishioners’ needs were met. The joint ef- fort of the church’s property acquisition team and the SVN|Imperial Realty team ensured this project was on schedule and on budget. Maser Consulting was con- sulted for their engineering expertise during the property search as well.
In a second transaction SVN|Imperial Realty has completed the sale of a mixed use/multi-family property at 4510 Main St., Whitehall for
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