HORSHAM, PA—Workspace Property Trust, a new real estate investment firm led by longtime successful industry veterans Thomas Rizk, Roger Thomas and Howard Sipzner, purchased 41 office and flex buildings in Horsham, PA from Liberty Property Trust for approximately $245.3 million.
Strategically located directly off the Pennsylvania Turnpike within Horsham, the portfolio consists of nearly 2.4 million square-feet across 41 buildings. While the portfolio is diverse across property type and tenant mix, the most heavily concentrated property type within the portfolio is 860,000 square feet of class A, multi-story office space.
Workplace says the acquisition represents the beginning of a strategic plan to build a portfolio of high quality, well-positioned suburban real estate assets in the Northeast region.
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