The property is located on 30 acres on East Swedesford Rd. The initial two buildings were constructed in 1986 in a partnership between Boston-based Bay Colony Development Co. and a local investor. A third building was completed in 1989, and the fourth was completed in 1998 by then-owner, Irving, TX-based Archon Group.
According to published reports, today's asking price per sf is approximately double the price paid by Archon for what was a three-building complex in 1995. Lend Lease acquired the property in 1999 for an undisclosed amount.
Fahey tells GlobeSt.com that the property is currently 96% occupied. Among the major tenants are First Consulting Group, which serves the health-care and pharmaceutical markets; Sungard Data Systems; giant insurer AIG, and Rockville, MD-based Magnugistics, a specialist in supply chain management.
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.
