{"id":1004172732,"date":"2017-04-13T06:33:16","date_gmt":"2017-04-13T14:33:16","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004172732"},"modified":"2017-04-13T06:33:16","modified_gmt":"2017-04-13T14:33:16","slug":"philly-area-offices-trade-for-13-2m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/philly-area-offices-trade-for-13-2m\/","title":{"rendered":"Philly-Area Offices Trade for $13.2M"},"content":{"rendered":"<p>By Corina Stef<\/p>\n<div id=\"attachment_1004172743\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/8525F658-DAC7-4FF7-BF6A-EDC4A448E284.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004172743\" data-attachment-id=\"1004172743\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/philly-area-offices-trade-for-13-2m\/8525f658-dac7-4ff7-bf6a-edc4a448e284\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/8525F658-DAC7-4FF7-BF6A-EDC4A448E284.jpg\" data-orig-size=\"976,732\" data-comments-opened=\"0\" 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=\"1150 Northbrook Drive, Trevose\" data-image-description=\"&lt;p&gt;1150 Northbrook Drive, Trevose&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;1150 Northbrook Drive, Trevose&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/8525F658-DAC7-4FF7-BF6A-EDC4A448E284.jpg?w=976\" class=\"size-medium wp-image-1004172743\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/8525F658-DAC7-4FF7-BF6A-EDC4A448E284.jpg\" alt=\"1150 Northbrook Drive, Trevose\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/8525F658-DAC7-4FF7-BF6A-EDC4A448E284.jpg 976w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/8525F658-DAC7-4FF7-BF6A-EDC4A448E284.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/8525F658-DAC7-4FF7-BF6A-EDC4A448E284.jpg?resize=768,576 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004172743\" class=\"wp-caption-text\">1150 Northbrook Drive in Trevose, Pa.<\/p><\/div>\n<p>The office building at 1150 Northbrook Drive in Trevose, Pa., was recently sold to a joint venture of\u00a0Red River Asset Management, Advalurem Group and Lincoln Property Co. for $13.2 million, accroding to Yardi Matrix data. CBRE\u2019s Robert Fahey, Jerry Kranzel and Erin Hannan acted on behalf of the seller, Rubenstein Partners. An acquisition loan funded by a New York City private bridge lender backed the deal.<\/p>\n<p>Complete in 2007, the 107,742-square-foot Class A property features\u00a0a two-story atrium lobby and a glass curtain wall. The building is located just across from various retailers within Neshaminy Mall and Horizon Shopping Center. It is also in close proximity to parks, hotels, daycare facilities, banks and public transportation, offering immediate access to main routes such as Pennsylvania Turnpike and Lincoln Highway.<\/p>\n<p>According to Philadelphia Business Journal, major renovations are underway, as the new owners intend to improve the property\u2019s conference center and add a locker room, fitness center and grab-&#8216;n&#8217;-go caf\u00e9. Renovations are expected to be finished by the end of summer.<\/p>\n<p>\u201c<em>1150 Northbrook is a true Class A building and is one of the best assets in the Bucks County office market,\u201d<\/em> Jerry Kranzel, SVP\u00a0with CBRE, said in prepared remarks. Tenants like Gamesa, Office of the Comptroller and Bracket Global bring the asset to 85 percent occupancy, while the new owners are looking forward to lease up the few remaining vacant suites.<\/p>\n<p><em>Image courtesy of Yardi Matrix<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A partnership of Red River, Advalurem Group and Lincoln Property Co. acquired a Bucks County office property in a deal arranged by CBRE.<\/p>\n","protected":false},"author":241,"featured_media":1004172743,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21783,21742,10,21747,1494],"tags":[34994,32789,32838,34993],"class_list":["post-1004172732","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-investment","category-latest","category-northeast","category-office","category-philadelphia","tag-advalurem-group","tag-cbre","tag-lincoln-property-company","tag-red-river-asset-management"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Philly-Area Offices Trade for $13.2M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/philly-area-offices-trade-for-13-2m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Philly-Area Offices Trade for $13.2M\" \/>\n<meta property=\"og:description\" content=\"A partnership of Red River, Advalurem Group and Lincoln Property Co. acquired a Bucks County office property in a deal arranged by CBRE.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/philly-area-offices-trade-for-13-2m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2017-04-13T14:33:16+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/8525F658-DAC7-4FF7-BF6A-EDC4A448E284.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"976\" \/>\n\t<meta property=\"og:image:height\" content=\"732\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/philly-area-offices-trade-for-13-2m\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/philly-area-offices-trade-for-13-2m\/\",\"name\":\"Philly-Area Offices Trade for $13.2M - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/philly-area-offices-trade-for-13-2m\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/philly-area-offices-trade-for-13-2m\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/8525F658-DAC7-4FF7-BF6A-EDC4A448E284.jpg\",\"datePublished\":\"2017-04-13T14:33:16+00:00\",\"author\":{\"@id\":\"\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/philly-area-offices-trade-for-13-2m\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/philly-area-offices-trade-for-13-2m\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/philly-area-offices-trade-for-13-2m\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/8525F658-DAC7-4FF7-BF6A-EDC4A448E284.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/8525F658-DAC7-4FF7-BF6A-EDC4A448E284.jpg\",\"width\":976,\"height\":732,\"caption\":\"1150 Northbrook Drive, Trevose\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/philly-area-offices-trade-for-13-2m\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Philly-Area Offices Trade for $13.2M\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Philly-Area Offices Trade for $13.2M - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/philly-area-offices-trade-for-13-2m\/","og_locale":"en_US","og_type":"article","og_title":"Philly-Area Offices Trade for $13.2M","og_description":"A partnership of Red River, Advalurem Group and Lincoln Property Co. acquired a Bucks County office property in a deal arranged by CBRE.","og_url":"https:\/\/www.commercialsearch.com\/news\/philly-area-offices-trade-for-13-2m\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2017-04-13T14:33:16+00:00","og_image":[{"width":976,"height":732,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/8525F658-DAC7-4FF7-BF6A-EDC4A448E284.jpg","type":"image\/jpeg"}],"twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/philly-area-offices-trade-for-13-2m\/","url":"https:\/\/www.commercialsearch.com\/news\/philly-area-offices-trade-for-13-2m\/","name":"Philly-Area Offices Trade for $13.2M - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/philly-area-offices-trade-for-13-2m\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/philly-area-offices-trade-for-13-2m\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/8525F658-DAC7-4FF7-BF6A-EDC4A448E284.jpg","datePublished":"2017-04-13T14:33:16+00:00","author":{"@id":""},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/philly-area-offices-trade-for-13-2m\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/philly-area-offices-trade-for-13-2m\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/philly-area-offices-trade-for-13-2m\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/8525F658-DAC7-4FF7-BF6A-EDC4A448E284.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/8525F658-DAC7-4FF7-BF6A-EDC4A448E284.jpg","width":976,"height":732,"caption":"1150 Northbrook Drive, Trevose"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/philly-area-offices-trade-for-13-2m\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Philly-Area Offices Trade for $13.2M"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"","url":"https:\/\/www.commercialsearch.com\/news\/author\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/8525F658-DAC7-4FF7-BF6A-EDC4A448E284.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004172732","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/241"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004172732"}],"version-history":[{"count":5,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004172732\/revisions"}],"predecessor-version":[{"id":1004172803,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004172732\/revisions\/1004172803"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004172743"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004172732"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004172732"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004172732"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}