"With the recent infrastructure improvements on Swedesford Road and Route 202, it makes a lot of sense to upgrade our portfolio in this area," Bruce Hartlein, VP of Liberty Property Trust, explains. "Companies love this location and so we decided to reposition this particular asset."
Hartlein is referring to 460 E. Swedesford Rd., a 71,739-sf building with a three-story glass entrance and chrome and glass center staircase that has recently been renovated. Upgrades were made to the common corridors, restrooms, HVAC system, fire system and front plaza area.
Three existing tenants renewed their leases--Schneider Capital, Standard Insurance and Carey Kramer Petit Panichelli & Associates. Liberty then brought on five more tenants to fill the rest of the building. These were U Store It with 18,026 sf, Miria Systems at 7,715 sf, Geneva Global at 6,759 sf, Nodal Exchange at 4,539 sf, and Berger Rental Communities at 3,409 sf.
Next door at sister building 440 E. Swedesford Rd., Liberty is planning a minor renovation to the common areas. It has also renewed two leases in the building, which is 88% occupied. These are Genex, which renewed its lease for 60,818 sf and Bradley Burns, which renewed for 3,074 sf. This building has 8,444 sf available for lease.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
