Terms of the lease are undisclosed. The average asking rental rate for class A office facilities in the Horsham/Willow Grove submarket is $21.94 per sf, according to a second-quarter 2004 report from the Philadelphia office of CB Richard Ellis.
Cranberry, NJ-based Matrix Development Corp. owns the center. Other major tenants are Canon, Kelly Services and Centocor, which is a division of Johnson & Johnson. The facility offers easy access to the Philadelphia and New Jersey pharmaceutical industry marketplace, an area of business in which Dudnyk specializes. Matrix VP Frank DiMaria negotiated the transaction.
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