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A Toll Brothers' Brother Snaps Up Former Tyco Property

BLUE BELL, PA-BET Investments, headed by Bruce E. Toll, an owner of the luxury residential builder, beefs up its 1.5-million-sf Philadelphia-area commercial portfolio with the 167,484-sf property vacated by Tyco's Yarway subsidiary.

By Marita Thomas | Updated on October 20, 2003

BLUE BELL, PA-Huntington Valley, PA-based BET Investments bought the 167,484-sf manufacturing and office building here that was just vacated by Yarway Corp., a subsidiary of Tyco International. BET is owned by Bruce E. Toll, one of the two Toll Brothers, also based in Huntington Valley and among the largest residential builders in the nation. It has luxury home developments in about a dozen states.

The Yarway acquisition builds BET’s Blue Bell portfolio to 300,000 sf, including the recently purchased 10 Sentry Parkway office property, which is 100% leased to Merck Pharmaceuticals. The Yarway facility also takes the BET Philadelphia-area commercial portfolio to more than 1.5 million sf.

Michael P. Markman, BET’s EVP, declined to tell GlobeSt.com the price paid for the building and the 18 landscaped acres on which it stands. He says BET “plans to renovate the Yarway building to create a class A office space in a submarket that has very few large blocks of office space currently available.”

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