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HCI Signs First Lease in New Building

TREVOSE, PA-The marketing company takes a seven-year, 26,147-sf, full floor lease in the 1150 Northbrook Dr. building here.

By Casey Freeman | Updated on June 05, 2008

TREVOSE, PA-HCI Direct Inc. signed a seven-year lease for 26,147 sf, a full floor, at 1150 Northbrook Dr., which makes them the first tenant in the brand new 105,000-sf office building. Bresler & Reiner Inc. is the owner of the four-story building, and owns many other commercial, residential and hospitality properties around the country, and nearly two million sf in the Delaware Valley. The aggregate lease value was not disclosed to GlobeSt.com.

Bresler & Reiner also owns the three other buildings that make up the five-building Northbrook Corporate Center. The other two buildings are small, single-occupancy buildings. The total square footage of the center is approximately 340,000 sf.

The class A space at 1150 Northbrook Dr. was leased for $26 per sf, which is priced at the top of the Northbrook Corporate Center’s lease prices. The rental rates start at $21.22 and average lease price is $23.85 per sf. According to GVA Mack Smith’s first quarter statistics, the average asking rate in Lower Bucks County was $23.07 per sf. Direct vacancy was at 19.2% and 21.1% vacancy including sublet space.

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