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Investor Pays $134 Per SF for Horsham Asset

PHILADELPHIA-The multi-story, 41,931-sf Witmer Plaza on Dresher and Witmer Roads in Horsham, PA in Montgomery County sells to local private investor Michael Insalaco for $5.633 million. Occupancy at the just-completed building is 90%.

By Marita Thomas | Updated on August 29, 2002

PHILADELPHIA-Witmer Plaza, a newly completed, multi-story, 41,931-sf office building at 901 Dresher Road in Horsham, PA sells to locally-based investor Michael Insalaco for $5,633,351 or $134.34 per sf. It is located at the busy intersection of Dresher and Witmer Roads in suburban Montgomery County north of Philadelphia.

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.

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