MALVERN, PA—Months after relocating international building products firm Saint-Gobain to a redeveloped office campus here, E. Kahn Development, J. Loew & Associates, and AEGON US Realty Advisors have sold the Saint-Gobain North American Headquarters, a two-building, 65-acre corporate campus in Malvern, PA, to Chicago-based 90 North Real Estate Partners and Arzan Wealth for $123 million.
“This acquisition truly reflects and embraces our definition of 'trophy' credit,” says Daniel Cooper, partner and head of 90 North's North American operations, said. “The property is occupied by Saint-Gobain, a Global 200, S&P rated BBB-company under a 15-year lease agreement with additional renewal options.”
The Kahn-Loew-AEGON consortium was represented by Brian Fiumara, senior vice president, CBRE, and Jim Vesey, president, Vesey Capital.
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