WAYNE, PA—A fund managed by Equus Capital Partners has acquired Bay Colony Executive Park, a 247,294 square-foot four-building office park in Wayne, PA, from Brandywine Realty Trust. Terms were not disclosed.
“With the acquisition of Bay Colony, we will benefit from the transformation that is happening in the immediate area. This quadrant of King of Prussia/Wayne will soon be regarded as one of the true live/work/play environments in the Greater Philadelphia area,” says George Haines, vice president of Equus, who along with Joe Felici, directed the acquisition. “We recognize the real demand for modernized office space in amenity-rich locations. After a significant capital investment in building and campus upgrades, we believe that Bay Colony will be highly coveted by tenants in our marketplace.”
The property is at the intersection of I-76, US Route 202, the Pennsylvania Turnpike, and US Route 422, approximately 20 miles northwest of center city Philadelphia. The property was 88 percent leased at the time of closing.
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Steve Lubetkin
Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].
