The two offices--built in two phases in 1980 and 1984--total 344,863 sf. The three- and four-story office buildings are joined by a one-story connector and are 100% occupied by Agfa-Gevaert. The property also includes a 38-acre development parcel.

Philip Tager, a director in Praedium's acquisition group, says that Praedium and Griffith plan a major renovation and upgrade of this property. "With Agfa continuing on as a long-term tenant for a portion of the space, we're in a great position to execute new leases as improvements are made to the rest of the property," he adds.

J. Brad Griffith, principal at Griffith Properties, points out that the buildings are being redeveloped to accommodate large users of office and research and development space, especially those that require headquarters in the Route 93 corridor. "We have 200,000 sf to lease in the near term and we believe that new tenants will be attracted to the 'new' buildings, campus environment as well as the ability to expand onto the adjacent 16-acre land parcel that can accommodate an additional 250,000-300,000 sf of new construction."