The 128,000-sf building is in the new 210-acre Ellis Preserve, at the intersection of Newtown Road and West Chester Pike. BPG Development, also an affiliate of BPG Properties, is creating a mixed-use center here, the former home of Ellis College. The Ellis Cultural Conference Center, a cafeteria, an athletic center and several historic cottages are already on-site.

The proposed mixed-use center is planned adjacent to Main Line Health's build-to-suit. The Ellis Preserve Town Square will include more than 400,000 sf of retail space, 500,000 sf of office space and more than 200 residential units.

The Commercial Mortgage division of Allstate Real Estate Investment Group provided a 6.8-year, $37-million fixed-rate loan for the acquisition. Thompson Maher of Wachovia Maher Partners was the financial intermediary. Main Line Health runs four suburban Philadelphia hospitals in Bryn Mawr, Malvern, Wynnewood and Paoli.