{"id":1004148618,"date":"2016-07-25T06:52:44","date_gmt":"2016-07-25T14:52:44","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004148618"},"modified":"2020-05-12T22:33:13","modified_gmt":"2020-05-13T06:33:13","slug":"high-occupancy-suburban-philly-office-building-up-for-grabs","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/high-occupancy-suburban-philly-office-building-up-for-grabs\/","title":{"rendered":"Suburban Philly Office Building Up for Sale"},"content":{"rendered":"<p><em>By Adriana Pop<\/em><\/p>\n<p><strong>Philadelphia<\/strong>\u2014<a href=\"https:\/\/insalacodev.com\/\" rel=\"nofollow\" target=\"_blank\">Insalaco Development Group<\/a> has selected <a href=\"https:\/\/www.colliers.com\/en-us\" rel=\"nofollow\" target=\"_blank\">Colliers International<\/a> to market for sale The Constitution Building, a suburban <a href=\"https:\/\/www.commercialsearch.com\/news\/office\/\" target=\"_blank\">office development<\/a> located at 1950 St. Road in Bensalem, Pa., Lower Bucks County, which is part of <a href=\"https:\/\/www.commercialsearch.com\/news\/philadelphia\/\" target=\"_blank\">metro Philadelphia<\/a>.<\/p>\n<div id=\"attachment_1004148620\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/07\/1950-St.-Road-in-Bensalem-Pa..jpg\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004148620\" data-attachment-id=\"1004148620\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/high-occupancy-suburban-philly-office-building-up-for-grabs\/1950-st-road-in-bensalem-pa\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/07\/1950-St.-Road-in-Bensalem-Pa..jpg\" data-orig-size=\"838,600\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"1950 St. Road, in Bensalem Pa.,\" data-image-description=\"&lt;p&gt;1950 St. Road, in Bensalem Pa.,&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;1950 St. Road, in Bensalem Pa., Lower Bucks County, &lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/07\/1950-St.-Road-in-Bensalem-Pa..jpg?w=838\" class=\"wp-image-1004148620 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/07\/1950-St.-Road-in-Bensalem-Pa..jpg\" alt=\"1950 St. Road, in Bensalem Pa.,\" width=\"300\" height=\"215\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/07\/1950-St.-Road-in-Bensalem-Pa..jpg 838w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/07\/1950-St.-Road-in-Bensalem-Pa..jpg?resize=300,215 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/07\/1950-St.-Road-in-Bensalem-Pa..jpg?resize=768,550 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004148620\" class=\"wp-caption-text\">1950 St. Road, in Bensalem Pa., Lower Bucks County.<\/p><\/div>\n<p>The property is offered at a purchase price of nearly $3.9 million, or $119 per rentable square foot. The buyer\u2019s first-year returns are projected to stand at an 8.5 percent cap rate and 15.9 percent cash-on-cash.<\/p>\n<p>Currently 91.6 percent occupied, The Constitution Building has a long history of high occupancy and renewals, consistently outpacing its competitive set in this submarket.<\/p>\n<p>The property offers immediate access to an abundance of shopping, dining, hotel and service amenities. The building is also situated close to I-95 (one mile), US Route 1 (2.6 miles) and I-76 (3 miles), within easy reach of Philadelphia\u2019s northern suburbs, Center City and New Jersey. Easily accessible public transit via SEPTA\u2019s extensive bus and rail system is another reason the Constitution Building\u2019s occupancy has consistently been above 90 percent with a high proportion of tenant renewals.<\/p>\n<p>Current tenants at the property include A-1 Family Dental Care, Treen Box &amp; Pallet Corp., Pennsylvania Dermatology Partners, Marshall Kressman, Esq., the State of Tennessee and Summit Mortgage Co.<\/p>\n<p><em>Image courtesy of Colliers International<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Colliers International is representing Insalaco Development in the sale of The Constitution Building in Bensalem, Pa. <\/p>\n","protected":false},"author":260,"featured_media":1004148620,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21742,10,21747,1494],"tags":[],"class_list":["post-1004148618","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-latest","category-northeast","category-office","category-philadelphia"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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