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GPX Takes 17-Building Portfolio for $60M

PLYMOUTH MEETING, PA-In an off-market transaction, one of the largest this year, Bruce Buck sells the 570,000-sf Woods Office Center, which spans two counties.

By Marita Thomas | Updated on March 22, 2007

PLYMOUTH MEETING, PA-In one of the year’s largest suburban transactions, Philadelphia-based GPX Realty Partners LP has acquired the Woods Office Center. The property is a 17-building portfolio aggregating 570,000 sf on 77 acres spanning Chester and Montgomery counties.

GPX paid $60 million, or just north of $105 per sf, in an all cash, off-market deal with Bruce Buck, the locally based private investor and developer. No brokers were involved in the transaction.

The center contains five buildings here at 521-532 Plymouth Rd., and 12 in Wayne at 983-999 Old Eagle School Rd. Both locations are at Pennsylvania Turnpike exits.

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