EXTON, PA-Physiotherapy Assoc., formerly Benchmark Medical, has signed a lease for 21,493 sf at 855 Springdale Dr. in the Whiteland Business Park. Within 90 days, it will relocate and expand from its current 14,000 sf at Valley Brooke Corporate Center in Malvern to establish its headquarters in the new location.
The aggregate value of the new lease exceeds $4.7 million, according to Richard Smith, a principal of Fort Washington-based Avir Realty Group Inc. Smith represented Physiotherapy and was the sole broker in the contract with the owner, Radnor-based Brandywine Realty Trust.
The 52,701-sf, class A office building was constructed in 1987 and is newly renovated. Whiteland Park encompasses 4,579 acres.
Physiotherapy is an entity of Chicago-based Water Street Healthcare Partners and Wind Point Partners, which are private equity firms focused exclusively on the healthcare industries. Physiotherapy operates more than 800 clinics nationwide that offer physical therapy, orthotic and prosthetic services.
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