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Office Asset Trades for $196 Per SF

WYNNEWOOD, PA-BPG sells the three-story, 50,000-sf office building at 308 E. Lancaster Ave. to a Philadelphia real estate firm for $9.8 million. The new owner plans to locate its headquarters in the building.

By Marita Thomas | Updated on July 13, 2006

WYNNEWOOD, PA-BPG Properties Ltd. has sold the office property at 308 E. Lancaster Ave. for $9.8 million, or $196 per sf, to a Philadelphia-based real estate firm identified only by the building’s address. The building is currently 87% leased, but the new owner plans to relocate its headquarters into approximately half of the building, Robert Cook, VP of BPG, tells GlobeSt.com.

Davin Lamm and Jim Wilson of Ardmore-based Mahoney Realty Group represented the seller, and the buyer was represented in house. The building is located within two miles of City Line Avenue with easy access to I-76 and one mile from the Septa regional rail station.

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