KING OF PRUSSIA, PA—With two successful suburban office repositionings behind them and one more in the pipeline, Steve Gleason, president of Kairos Real Estate Partners says the firm remains optimistic that its value-add strategy of redeveloping older office properties is the right one moving into 2017.
“We're still big believers in well-located properties, and buying them at a basis that will allow us to create great amenities and still offer them at a discount to other properties in the market,” he says. “We're still bullish on the market. We're not just looking in the suburbs, but we are looking at some opportunities in the CBD of Philadelphia and other markets. Philadelphia is no longer a well-kept secret. A lot of investors from outside of the market have discovered Philadelphia and have invested significantly in this market, and we think that's a trend that's going to continue.”
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