First Evergreen Gets $14M for Fully-Leased Asset

LANSDALE, PA-Blue Bell, PA-based Capital Solutions buys a fully-leased 93,795-sf class-A office building at 212 Church Rd. from First Evergreen for $14.5 million. Nine years remain on the current tenant's lease, estimated at $21 per sf.

By Marita Thomas | June 14, 2002 at 01:01 AM

The property is currently fully leased to ICON Clinical Research, a worldwide clinical research company headquartered in Dublin, Ireland, with offices in Philadelphia. Nine years remain on ICON's 10-year lease.

Rental rates on the property were unavailable, but brokers of properties in Montgomery County report that rates in class-A office buildings there run about $21 per sf.

James Vesey, Michael Hines and Michael Blunt of Philadelphia-based Cushman & Wakefield of Pennsylvania represented First Evergreen in the transaction.

NOT FOR REPRINT

1 Trump Revokes Downtown Location Rules, Pushing Federal Offices to Cheaper Areas

2 Apartment Supply in Some Markets Still to Peak

3 Multifamily Investment Outlook Brightens Amid Stabilizing Rents and Declining Vacancy

4 California Mulls Statewide Tax on Vacant Commercial Properties

5 Importers Rush to Bonded Warehouses as Tariffs Drive Up Storage Demand

Real Estate
GlobeSt. ELITE Women of Influence (WOI) 2025
July 21, 2025 - Denver

GlobeSt. Women of Influence Conference celebrates the women who drive the commercial real estate industry forward.
More Information
Real Estate
GlobeSt. Multifamily Fall 2025
October 15, 2025 - Los Angeles

Join the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!
More Information
Workers' Compensation Risk Management Award for Excellence Nominations
May 05, 2025 - Nomination Deadline

The 2025 Workers Comp Risk Management Award for Excellence honors outstanding loss control, safety and return-to-work programs.
More Information

Middle Market Digest: This Week in the South and Mountain Regions

By Lisa Brown | August 10, 2018

Here's a look at the trends, announcements and deals you may have missed in Texas, New Mexico, Colorado, Oklahoma and Arkansas.

Middle Market Digest: This Week in the South and Mountain Regions

Late-in-the-Game LEED is No Issue in Rehab

By Lisa Brown | August 09, 2018

The former Corrigan Tower was transformed from a midcentury office building to a 150-unit class-A multifamily building with ground-floor retail and a rooftop pool, now called 1900 Pacific Residences.