WAYNE, PA-Two recent leases at the 34-acre Valley Forge Office Center in Pennsylvania’s King of Prussia submarket reflects the diversity--and value--of the property’s tenant base, says Keystone Property Group, which owns and manages the six-building, class A complex.
Sono Bello, a laser-assisted body contouring specialist practice, has signed a lease for 6,098 square feet at 656/676 E. Swedesford Rd. at the campus, while Berman-Purdum, a manufacturers representative for sporting and recreational goods, signed a new lease for 1,434 square feet at 480 E. Swedesford Rd.
While the two companies are very different, Rich Gottlieb, senior vice president of operations and development for Keystone, tells GlobeSt.com that both tenants were looking for a “better class of building” while still remaining in budget. “We were able to provide that,” he says, noting that asking rents average around the mid-$20s per square foot.
Gottlieb says Berman-Purdum will relocate to the 50,000-square-foot building at 480 from Conshohocken, a borough outside of Center City Philadelphia. “They liked the King of Prussia market,” he says, describing the complex's close proximity to Route 202 and regional shopping. “You are in a park type of environment, but you’re a stone’s throw away from the King of Prussia Mall and all the amenities that has to offer, as well as all the amenities in and around the mall. There’s everything from a fast-food lunch to a high-end Morton’s Steakhouse, Ruth Chris or Capital Grille.”
And as newcomers to the King of Prussia market, Gottlieb says Sono Bello will build-out the space at 656/676 exactly to their needs, which the firm found more enticing than other properties on the market. “They were looking for a high-image building and they liked the corporate type of setting,” he says. The mid-rise, 146,704-square-foot features a new three-story atrium, as well as new caf
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 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.
