6C — June 8 - 21, 2018 — Pennsylvania — M id A tlantic Real Estate Journal
www.marejournal.com
P ennsylvania Greisler joins Procision Business Brokers and Commercial Realty as VP of retail Procision Commercial Realty brokers acquisition of an 84,000 s/f office building in Fort Washington
ORT WASHINGTON, PA — Procision Com- mercial Realty , an affiliate of Procision Busi- ness Brokers , represented LRS Corp. in the acquisition of 515 Pennsylvania Ave. in Fort Washington. Anchored by one of the largest employers in the Philadelphia Region, Temple University Health System, the building maintains a stable and long term tenant mix. Additional tenants include Amtech, a Global Technology Specialist for the corrugated manufacturing industry and F
Chariot Solutions, an award winning Regional IT Special- ist. Located just off the Fort Washington exit of the Penn- sylvania Tpke., this flagship property is ideally situated at the main entrance of the Fort Washington Office Park. Dave Garonzik , managing director of the NKF Capital Markets team in Philadel- phia, represented the seller, LSREF4 REBOUND LLC of Lone Star Funds. Garonzik said “515 Pennsylvania pre- sented the buyer with the op- portunity to purchase a cash
flowing asset with value-add upside in Fort Washington. Located just a mile from the Pennsylvania Turnpike, the property is anchored by a lo- cal health system providing stability as the Fort Wash- ington submarket continues its recovery. The buyer and their representation worked tirelessly to allow a smooth transaction. They were an ex- cellent partner to work with.” Robert Beach , president of Procision Commercial Realty, brokered the transaction on behalf of the buyer and man- aged the due diligence and ac- quisition process throughout. “With a roster of quality ten- ants, the building is anchored by the regional powerhouse, Temple University Health System. Considering the lim- ited product available, 515 Pennsylvania Ave represented an excellent opportunity to acquire a quality asset with a value-add component as well as a stabilized and diverse tenant base. Further improve- ments to the building are underway and we are excited to enhance the full potential of this quality asset,” said Beach. In other Procision news, Procision Business Brokers and Commercial Realty an- nounced the addition of Marc Greisler as vice president of retail. As a well-established commercial real estate profes- sional, Greisler brings vast experience in various real estate services, including investment sales, leasing, asset management, develop- ment and finance. During his stellar career, he has special- ized in Highway Commercial, Shopping Centers and NNN Investment Sales throughout the Mid-Atlantic region and nationally. With a large and stable client base of high net worth individuals, private eq- uity, and institutional inves- tors, Greisler has developed a proven track record of success and is a go to resource in the marketplace. Greisler is a graduate of St. John’s University’s presti- gious Business Program and has extensive training in the commercial real estate field. Previously, he worked in the retail investment sales group for Marcus & Millichap and most recently, functioned as a member of Gelcor Realty. C Procision Business Brokers and Commercial Realty is a Business Advisory Group.
515 Pennsylvania Ave.
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