KOZ status brings typical office rental rates in the Warminster area of Bucks County to about $14 per sf, compared with going rates of from $23 per sf to $26 per sf in Newtown, PA in Bucks County, and Horsham, PA in adjacent Montgomery County, brokers tell GlobeSt.com.
Franklin's 80-acre property is sectioned into 14 parcels ranging from three to 20 acres. Franklin expects to break ground this fall for a speculative 55,000-sf office building. Health care providers and businesses to serve Ann's Choice, Erickson's adjacent retirement community, are seen as prospective tenants. The space is zoned for both light industrial and office use.
Franklin bought a 95,000-sf building at the naval-turned-technology center a year ago. Called CenterPointe Office Center, it is currently undergoing an $8-million renovation by the developer.
Ann's Choice is Erickson's first PA retirement community. Units sell for an entrance deposit ranging from just over $100,000 to above $300,000 with monthly fees of from about $1,100 to $1,700, respectively.
Erickson says it has deposits for more than 100 units and the first 100 will be completed by spring 2003.
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