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Berwind Buys 65,220-SF Industrial Building from Aetna

MONTGOMERYVILLE, PA-The insurance giant sold the industrial building at 220

By Marita Thomas | Updated on March 10, 2003

MONTGOMERYVILLE, PA-Philadelphia based Berwind Property Group paid $2.25 million, orapproximately $34.50 per sf, to Hartford, CT-based Aetna, Inc., for theindustrial building at 220 Commerce Drive in Montgomeryville, PA. BPG boughtit as an investment property, but subsequently leased it in its entirety toDallas-based Affiliated Computer Services.

Terms of the ACS lease were undisclosed. The average asking rental rate forindustrial space in the suburban community north of Philadelphia is between$5.15 per sf and $5.35 per sf, according to GlobeSt.com research. ACS willuse the building as a data entry and storage facility to support a contractit recently signed with the city of New York.

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