"While the large tenant segment of the office market continued at a slow pace during the first quarter, small and medium-sized tenants continued to be active," says John P. Morrissey of King of Prussia, PA-based Morrissey Partners. He expects increased growth in the suburban office markets this year, but believes recovery will be gradual.
New leases at 500 North Gulph Rd. in King of Prussia include 2,340 sf by Emerald Asset Management, Inc., and 1,700 sf by Gabriel International, LLC. RemX Financial leased 2,160 sf at 216 Mall Blvd. in this town.
Two companies took up space at 300 National Rd. in Exton, PA. On-Line Monitoring Inc. leased 2,260 sf, and M/A COM Inc. leased 6,730 sf. In addition, Millbrook Inc. signed a lease for 2,390 sf at 102 Pickering Way in Exton.
Two properties in Malvern, PA, gained new tenants. The American Cancer Society inked a lease for 4,080 sf at 1615 West Chester Pike. IT Toolbox, Inc. leased 3,180 sf at 270 Lancaster Ave.
The accounting firm of Lewis, Schnoffer & Co. purchased the 2,000-sf building at 651 South Gulph Rd. in King of Prussia. Whitford Insurance purchased a 4,000-sf building at 503 Gordon Dr. in Exton.
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.
