WAYNE, PA-New leases for an aggregate of 82,540 sf have taken occupancy in Valley Forge Office Center to 80%. Keystone Property Group acquired the six-building, 515,795-sf complex for $64 million in September 2005.

Conshohocken-based Keystone specializes in acquiring properties that Bill Glazer, its president, describes as “functionally obsolete and capital-starved.” The Valley Forge complex, which was built in the 1970s, is among them and so is the two-building, 140,000-sf Devon Park II, also located in this suburb, which Keystone acquired in the same year. The redevelopment and lease up of both is ahead of schedule.

Stephen Kriz and Steve Cousart of the local office of CB Richard Ellis represented Keystone in the three new leases for the Valley Forge center on E. Swedesford Rd. The largest is 39,463 sf in the 656/676 buildings by Signal Holdings LLC. Fred Hesser of the Hesser Group represented the tenant.