The facility is 90% leased. Average asking rental rate for office properties in the Horsham/Willow Grove areas of Montgomery County is approximately $20.30 per sf.
Rents on such class-A properties are said to be stabilizing, although demand remains relatively flat, according to second-quarter reports. A 675,000-sf master-planned business park has just won approval.
The local office of Encino, CA-based Marcus & Millichap brokered the sale of Witmer Plaza for its previous owner, Witmer Road, Inc., and also found the buyer.
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