{"id":1004181875,"date":"2017-06-26T06:46:53","date_gmt":"2017-06-26T14:46:53","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004181875"},"modified":"2021-05-14T23:29:07","modified_gmt":"2021-05-15T07:29:07","slug":"suburban-philly-office-buildings-sell-for-36m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/suburban-philly-office-buildings-sell-for-36m\/","title":{"rendered":"Suburban Philly Office Buildings Sell for $36M"},"content":{"rendered":"<p>By Corina Stef<\/p>\n<div id=\"attachment_1004181876\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/Webp.net-resizeimage2.png\" target=\"_blank\" rel=\"noopener noreferrer\"><img decoding=\"async\" aria-describedby=\"caption-attachment-1004181876\" data-attachment-id=\"1004181876\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/suburban-philly-office-buildings-sell-for-36m\/webp-net-resizeimage-21\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/Webp.net-resizeimage2.png\" data-orig-size=\"800,600\" 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=\"486 Thomas Jones Way , Exton, Pa.\" data-image-description=\"&lt;p&gt;486 Thomas Jones Way , Exton, Pa.&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;486 Thomas Jones Way , Exton, Pa.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/Webp.net-resizeimage2.png?w=800\" loading=\"lazy\" class=\"wp-image-1004181876 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/Webp.net-resizeimage2.png\" alt=\"486 Thomas Jones Way , Exton, Pa.\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/Webp.net-resizeimage2.png 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/Webp.net-resizeimage2.png?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/Webp.net-resizeimage2.png?resize=768,576 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004181876\" class=\"wp-caption-text\">486 Thomas Jones Way , Exton, Pa.<\/p><\/div>\n<p>SSH Real Estate represented four different sellers in the disposition of their office assets located in <a href=\"https:\/\/www.commercialsearch.com\/news\/pennsylvania-offices-trade-for-23m\/\">suburban Philadelphia<\/a>. The seven properties traded for a combined $36 million. The buildings\u00a0were purchased through 1031 exchanges by investors looking for rent-stabilized properties. SSH\u2019s Dan Mayock, Tyler Berlinsky, Mike Montemuro and Angel Lin brokered the sales.<\/p>\n<p>The properties in question are:<\/p>\n<ul>\n<li>456 Creamery Way in Exton, Pa., a 47,604-square-foot flex building completed in 1987. The property has been fully occupied by Neutronics since 1992 and it is located in the vicinity of\u00a0schools, banks, eateries and retailers. The buyer was represented by Vista Realty Partners Principal Jeff Duffy.\u00a0According to PropertyShark, it last traded for $4.5 million last December.\u00a0<\/li>\n<li>100 Campbell Blvd. in Exton, Pa., a 30,824-square-foot office building anchored by Keller Williams. The tenant roster also includes\u00a0Elite Dental Care and First Land Transfer. The single-story property was now sold to Posh Construction for $5.5 million, PropertyShark data shows.<\/li>\n<li>468 and 486 Thomas Jones Way in Exton, Pa., two properties offering a total\u00a080,306 square feet of office space. Both are leased\u00a0to Collegium Charter School. According to public records, Gorman &amp; Co.\u00a0purchased the buildings for\u00a0$15.2 million after being forced to sell two other properties leased to the school due to purchase options in the leases.<\/li>\n<li>1025 Andrew Drive and 1234 West Chester Pike in West Chester and 3409 West Chester Pike in Newtown Square, Pa., comprising a total of 70,473 square feet of office space. Berkshire Hathaway occupies two of the buildings, while all of them face major highways such as Route 202 and West Chester Pike. The buyer had sold a parking garage in Philadelphia prior to this deal. SSH was awarded the property management and leasing assignments for this portfolio.<\/li>\n<\/ul>\n<p><em>Image courtesy of Yardi Matrix<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The seven assets are located in Exton, West Chester and Newtown Square, Pa., and total more than 229,000 square feet of office\/flex space. The properties changed hands through like-kind exchanges. <\/p>\n","protected":false},"author":241,"featured_media":1004181876,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21783,11,21747,1494],"tags":[34692,36389,36390],"class_list":["post-1004181875","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-investment","category-midatlantic","category-office","category-philadelphia","tag-berkshire-hathaway","tag-ssh-real-estate","tag-vista-realty-partners"],"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>Suburban Philly Office Buildings Sell for $36M - 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\/suburban-philly-office-buildings-sell-for-36m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Suburban Philly Office Buildings Sell for $36M\" \/>\n<meta property=\"og:description\" content=\"The seven assets are located in Exton, West Chester and Newtown Square, Pa., and total more than 229,000 square feet of office\/flex space. 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