ROYERSFORD, PA-Following its expansion into 25,000 sf of the office space in the 225,000-sf industrial building at 1101 Enterprise Dr., Iron Mountain Inc. has exercised its first right of refusal to buy the building from Wetherill Associates Inc. After Wetherill obtained several offers, Iron Mountain matched the highest bid, which was $12.3 million or $55 per sf, according to Peter Greenhalgh, director of industrial and technical services based in Cushman & Wakefield's Conshohocken office.
Greenhalgh represented Iron Mountain. Duke Kennedy of Bala Cynwyd-based Corporate Realty Solutions Inc. represented Wetherill.
Greenhalgh tells GlobeSt.com, "the building was constructed for Wetherill in 1994 and it has leased back 30,000 sf of office space in the facility and will maintain its headquarters there. It is moving the rest of its operations to Memphis. Iron Mountain plans to occupy the remainder of the building over time," he says.
Boston-based Iron Mountain has its regional headquarters in nearby Collegeville. The need for expansion arose from its acquisition of Pierce Leahy Archives in 2000, which made it among the largest records management company in the Western hemisphere.
© 2025 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.
