Search
 

High-Tech Office Asset Trades for $14M

VALLEY FORGE, PA-A New Jersey investment group acquires a 120,000-sf, specially equipped office building, which has potential for a 30,000-sf expansion.

By Marita Thomas | Updated on November 05, 2007

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.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.