M id A tlantic Real Estate Journal — Pennsylvania — September 11 - 24, 2020 — 17B
www.marej.com
P ennsylvania
ECHANICSBURG, PA —The asset man- agement division of Portfolio consists of 12 industrial/flex buildings in Langhorne and Trevose Lee & Associates of Eastern PA wins asset management contract for 600,000 s/f portfolio M
Lee & Associates provides strategic insight and transac- tional advisory services for both tenant and agency clients with a focus on industrial assets. Lee has been involved in lease or sale transactions totaling more than 10 million s/f and in excess of 1,100 acres of land. Lee spe- cializes in the underwriting and analysis of development sites and assets on behalf of clients. He has structured building sale, development site sale, ten- ant & agency representation, build-to-suit, redevelopment, and expansion & consolidation transactions throughout his career. MAREJ
procedures that realize opera- tional efficiencies.” “We have a tremendous amount of confidence in the professionals at Lee & Associ- ates to elevate the operational performance of this portfolio, given their track record of suc- cess and proven asset manage- ment protocols,” said Patrick Jennings , managing director, investments & asset manage- ment for The Arden Group. Lee &Associates of Eastern Pennsylvania is an affiliate of Lee & Associates, the largest broker-owned firm in North America with offices inter- nationally.
new restaurants, new apart- ments, new businesses coming into our township;…just some great success stories for our community. Private investment and redevelopment projects of more than $250 million are completed or in development. Horsham Township remains a community uniquely con- nected to its’ business parks and its’ business community. Horsham Township means business (and we’re just get- ting started)! MAREJ Class A office building at 100 Witmer Road. continued from page 15B Horsham Twp., PA “Lee & Associates is extreme- ly familiar with this portfolio based on our leasing oversight, and we plan to take a synergis- tic approach to the asset man- agement activities by leverag- ing our strong relationships with the existing tenant base,” said Bruce Gordon of Lee & Associates. “The portfolio’s physical plant is in excellent shape, but we believe our team can build additional value by implementing new policies and Lee & Associates of Eastern Pennsylvania has been selected to provide full-service property management and asset services to a 12-building portfolio con- sisting of more than 600,000 s/f of industrial/flex space. Owned by The Arden Group , the col- lection of buildings is situated in Langhorne and Trevose, PA, two sub-markets located north- east of the Philadelphia metro- politan region. Bruce Gordon , principal; Michael Kelly , principal and Jessica Lynch , property administrator will direct the asset management activities for this assignment. Nine of the buildings are situ- ated on Cabot Blvd., Wheeler Court and Wheeler Way in Langhorne and three of the assets are located on Somerton Rd. and Metropolitan Drive in Trevose. Cumulatively, the single-story portfolio is 80% occupied, with all leasing ac- tivities handled by Patrick Lafferty , vice president, with Lee & Associates of Eastern Pennsylvania.
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