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Office Leasing Picks Up in the Suburbs

PHILADELPHIA-In two unrelated transactions, suburban properties secure

By Marita Thomas | Updated on August 20, 2003

PHILADELPHIA-In separate transactions, two firms ink long-term office leasesin Warminster, PA, which is about one hour north of here, and in Berwyn, PA,which is little more than a half-hour to the northwest.

OraPharma, a subsidiary of Johnson & Johnson, extends its lease forapproximately 17,600 sf at 730 Louis Drive in Warminster, a one-storyproperty owned by 730 Louis Drive LP, a locally based private real estate investmentpartnership. Matt Federick, VP of locally based Arden Real Estate Services,represented the owner.

Federick tells GlobeSt.com the aggregate value of the lease is in excess of$1 million and that the renewal secures the space into “the later years ofthis decade.” OraPharma, which specializes in oral healthcare products, isheadquartered at the Warminster location.

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