The biggest deal is the renewal of 57,118 sf at South Point I and II in Berwyn, PA by Torrance, CA-based DaVita, Inc., a provider of dialysis services. Vince Curren, president of locally based Palestra Properties, represented DaVita, and in-house broker David Niles represented Brandywine.
Niles also negotiated an expanded lease for locally based Main Line Health, Inc. totaling 17,457 sf at the same property. Terms of the South Point leases were not disclosed. Area brokers estimate that combined office/service space along this tech corridor of Chester County averages about $7.25 per sf.
Melville, NY-based Arrow Electronics renews 17,777 sf at 355 Business Center Dr. in Horsham in Montgomery County, where brokers tell GlobeSt.com asking rates for distribution space is about $4.75 per sf. In-house Brandywine broker Keith Oldt negotiated the transaction.
Among the other transactions, Oldt signed leases with XL Video for a Brandywine property in Newtown and with Neil Sagot P.C. for office space in a Bensalem property.
Niles handled leases at Bala Point in Bala Cynwood to the Louis and Bessie Stern Foundation and to Gallagher Medical Group, in addition to a lease at Berwyn Park in Berwyn to Regis Insurance.
Additional properties in the portfolio with new leases are 620 W. Germantown Pike in Plymouth Meeting to tenant Claymore Securities, Inc.; Newtown Square Corporate Campus to Mortgage Guaranty Insurance Co.; the Valley Brooke Corporate Center in Malvern to The Riley Co., a financial advisory firm; and 501 Office Center Drive in Fort Washington to Universal Service Agency, Inc.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
