High-Tech Office Asset Trades for $14M

VALLEY FORGE, PA-Radnor-based Mesne Properties Inc. has sold the 120,000-sf office building at 1000 Adams Ave. in Valley Forge Business Center to VT Property Group LLC, a Flemington, NJ-based investor group with holdings in New Jersey and Pennsylvania. The price is undisclosed. According to Montgomery County public records, it was just shy of $13.8 million, or nearly $115 per sf.

The building, which is located on 13.6 acres overlooking George Washington Golf Course, was constructed in 1978 and has a dual power feed, “which is critical to two of its major tenants,” according to MaryFrances McGarrity of King of Prussia-based Jackson Cross Partners. She and John Morrissey of Jackson Cross represented the seller, and Don Shuman Associates in Flemington represented the buyer.