2C — May 12 - 25, 2017 — Pennsylvania — M id A tlantic

Real Estate Journal


P ennsylvania

revose , PA — CBRE Group, Inc. (CBRE) arranged the Company appoints Biddle Practice Leader of Hotels CBRE’s Fahey, Kranzel & Hannan complete 107,742 s/f sale T

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sale of a class A office build- ing located at 1150 North- brook Dr. in Trevose. The f ou r - s t o r y , 107,742 s/f property was acquired by Red River As- set Manage- ment. R o b e r t Fahey, Jer- ry Kranzel a n d E r i n Hannan of CBRE Capi- tal Markets’ Institutional P r o p e r t i e s team repre- s en t ed t he seller, Ruben- s te in Par t - ners, during the transac- tion.

Robert Fahey

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1150 Northbrook Dr.

has been appointed Practice Leader of Hotels for the Great- er Pennsylvania Region, which includes Pennsylvania, South- ern New Jersey and Delaware. Biddle is replacing Peter Ty- son , who is retiring after more than 45 years in the hospitality consulting industry. In July, 2014, CBRE Group acquired PKF Consulting USA and PKF Hospitality Research and the group began operating as CBRE Hotels in February, 2016. Today, CBRE Hotels provides numerous consulting, valuation and research services to the hospitality and real es- tate industries. n

ment, led by Ian Anderson , collected substantial data and created a position paper show- ing that the best buildings in Philadelphia’s suburbs dramat- ically outperform the market as a whole. “We shared this information with the buyer and it was very impactful, and we believe that it was key in their determina- tion to invest in 1150 North- brook,” Kranzel added. 1150 Northbrook is currently 85 percent occupied with ten- ants including Gamesa, Office of the Comptroller and Bracket Global, among others. In other news, Tony Biddle

Jerry Kranzel

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Erin Hannan

“1150 Northbrook is a true class A building and is one of the best assets in the Bucks County office market,” said Kranzel, senior vice president. CBRE’s research depart-


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