Quick-Serve Restaurant Operator Buys and Relocates HQ to One Summit Square
The 67,219-square-foot four-story office building at 1717 Newtown Langhorne Road was acquired by a locally-based operator of quick-serve restaurants, which will relocate its corporate headquarters and occupy approximately 13,000 square feet of office space at the property.
LANGHORNE, PA—The One Summit Square office building has changed hands, according to brokerage firm Colliers International.
The 67,219-square-foot four-story office building at 1717 Newtown Langhorne Road was acquired by a locally-based operator of quick-serve restaurants, which will relocate its corporate headquarters and occupy approximately 13,000 square feet of office space at the property.
No financial details of the transaction were disclosed.
The property, located at the intersection of routes 413 & 332 (the Newtown Bypass) is leased by multiple quality tenants including Comcast, Ricoh, and US Congressman Brian Fitzpatrick.
Matthew Shanahan & Carl Neilson of Colliers International represented the seller, Country Life Insurance Company, and the buyer, an affiliate of Phoenix Nexus Enterprises, in the transaction.
With Colliers Shanahan’s recent representation in the sale of Trumark Financial Credit Union’s former headquarters at 1000 Northbrook Drive and his work on the trade of NCB’s headquarters at 1 Allied Drive, both located in Trevose, PA, he has concluded approximately $19 million in office sale transactions in Lower Bucks County within the last 12 months.