{"id":1004197222,"date":"2017-11-13T07:14:12","date_gmt":"2017-11-13T15:14:12","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004197222"},"modified":"2018-08-08T08:13:42","modified_gmt":"2018-08-08T16:13:42","slug":"joss-buys-suburban-philly-office-assets","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/joss-buys-suburban-philly-office-assets\/","title":{"rendered":"JOSS Buys Suburban Philly Office Assets"},"content":{"rendered":"<p>By Corina Stef<\/p>\n<div id=\"attachment_1004197224\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/11\/philly.jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004197224\" data-attachment-id=\"1004197224\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/joss-buys-suburban-philly-office-assets\/philly\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/11\/philly.jpg\" data-orig-size=\"1000,750\" 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=\"One Pitcairn Place, Jenkintown, Pa.\" data-image-description=\"&lt;p&gt;One Pitcairn Place, Jenkintown, Pa. &lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;One Pitcairn Place, Jenkintown, Pa. &lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/11\/philly.jpg?w=1000\" class=\"wp-image-1004197224 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/11\/philly.jpg\" alt=\"One Pitcairn Place, Jenkintown, Pa. \" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/11\/philly.jpg 1000w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/11\/philly.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/11\/philly.jpg?resize=768,576 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004197224\" class=\"wp-caption-text\">One Pitcairn Place, Jenkintown, Pa.<\/p><\/div>\n<p>JOSS Realty Partners has made its first suburban investment in more than a decade by acquiring One and Two Pitcairn Place in Jenkintown, Pa. Business consulting company Pitcairn sold the two Class A office buildings for a combined $12.1 million. The sale was funded through a loan financed by Beneficial Bank. Additionally, the new owner will handle the management and leasing services for both buildings and plans to renovate the assets.<\/p>\n<p>Located at 165 Township Line Road, the properties comprise a total of 103,048 square feet of space. According to Yardi Matrix, they were built in 1984 and 2000, and feature a fitness center and a full-service cafeteria. The properties are 99 percent leased to multiple long-term tenants, including\u00a0Pitcairn Trust, Sightlines, Wells Fargo Advisors, National Philanthropic Trust, Oppenheimer &amp; Co. and Raymond James.<\/p>\n<h2>Strong leasing fundamentals\u00a0<\/h2>\n<p>The nearby Jenkintown-Wyncote station and multiple SEPTA lines provide easy access throughout the area. Center City Philadelphia is a 30-minute train ride away from the property. Neighborhood amenities include eateries, cafes, parks, schools and universities, and banks. \u00a0<\/p>\n<p>\u201c<em>JOSS seeks boutique office acquisition opportunities in major metropolitan areas and submarkets where supply constraints and strong leasing fundamentals exist<\/em>,\u201d JOSS Realty Founding Partner Larry Botel said in a prepared statement. \u201c<em>Pitcairn Place meets all of those investment criteria while providing strong value-add opportunities to our investors<\/em>.\u201d<\/p>\n<p>In a recent deal, JOSS Realty\u00a0sold a creative office building in Santa Monica, Calif.,\u00a0for\u00a0a <a href=\"https:\/\/www.commercialsearch.com\/news\/creative-office-sells-for-31m-in-santa-monica-ca\/\">record-breaking price<\/a>.<\/p>\n<p><em>Image courtesy of Yardi Matrix<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The firm paid $12.1 million for two premier office assets in Jenkintown, Pa., shifting its investment focus to core suburban markets.<\/p>\n","protected":false},"author":241,"featured_media":1004197224,"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":[35560,38318,33277],"class_list":["post-1004197222","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-investment","category-latest","category-northeast","category-office","category-philadelphia","tag-joss-realty-partners","tag-pitcairn-trust","tag-wells-fargo"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>JOSS Buys Suburban Philly Office Assets - 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\/joss-buys-suburban-philly-office-assets\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"JOSS Buys Suburban Philly Office Assets\" \/>\n<meta property=\"og:description\" content=\"The firm paid $12.1 million for two premier office assets in Jenkintown, Pa., shifting its investment focus to core suburban markets.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/joss-buys-suburban-philly-office-assets\/\" \/>\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=\"2017-11-13T15:14:12+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2018-08-08T16:13:42+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/11\/philly.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"750\" \/>\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\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/joss-buys-suburban-philly-office-assets\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/joss-buys-suburban-philly-office-assets\\\/\"},\"author\":{\"name\":\"\",\"@id\":\"\"},\"headline\":\"JOSS Buys Suburban Philly Office Assets\",\"datePublished\":\"2017-11-13T15:14:12+00:00\",\"dateModified\":\"2018-08-08T16:13:42+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/joss-buys-suburban-philly-office-assets\\\/\"},\"wordCount\":260,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/joss-buys-suburban-philly-office-assets\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2017\\\/11\\\/philly.jpg\",\"keywords\":[\"JOSS Realty Partners\",\"Pitcairn Trust\",\"Wells Fargo\"],\"articleSection\":[\"Deals\",\"Investment\",\"News\",\"Northeast\",\"Office\",\"Philadelphia\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/joss-buys-suburban-philly-office-assets\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/joss-buys-suburban-philly-office-assets\\\/\",\"name\":\"JOSS Buys Suburban Philly Office Assets - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/joss-buys-suburban-philly-office-assets\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/joss-buys-suburban-philly-office-assets\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2017\\\/11\\\/philly.jpg\",\"datePublished\":\"2017-11-13T15:14:12+00:00\",\"dateModified\":\"2018-08-08T16:13:42+00:00\",\"author\":{\"@id\":\"\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/joss-buys-suburban-philly-office-assets\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/joss-buys-suburban-philly-office-assets\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/joss-buys-suburban-philly-office-assets\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2017\\\/11\\\/philly.jpg\",\"contentUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2017\\\/11\\\/philly.jpg\",\"width\":1000,\"height\":750,\"caption\":\"One Pitcairn Place, Jenkintown, Pa.\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/joss-buys-suburban-philly-office-assets\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"JOSS Buys Suburban Philly Office Assets\"}]},{\"@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":"JOSS Buys Suburban Philly Office Assets - 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\/joss-buys-suburban-philly-office-assets\/","og_locale":"en_US","og_type":"article","og_title":"JOSS Buys Suburban Philly Office Assets","og_description":"The firm paid $12.1 million for two premier office assets in Jenkintown, Pa., shifting its investment focus to core suburban markets.","og_url":"https:\/\/www.commercialsearch.com\/news\/joss-buys-suburban-philly-office-assets\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2017-11-13T15:14:12+00:00","article_modified_time":"2018-08-08T16:13:42+00:00","og_image":[{"width":1000,"height":750,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/11\/philly.jpg","type":"image\/jpeg"}],"twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.commercialsearch.com\/news\/joss-buys-suburban-philly-office-assets\/#article","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/joss-buys-suburban-philly-office-assets\/"},"author":{"name":"","@id":""},"headline":"JOSS Buys Suburban Philly Office Assets","datePublished":"2017-11-13T15:14:12+00:00","dateModified":"2018-08-08T16:13:42+00:00","mainEntityOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/joss-buys-suburban-philly-office-assets\/"},"wordCount":260,"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/joss-buys-suburban-philly-office-assets\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/11\/philly.jpg","keywords":["JOSS Realty Partners","Pitcairn Trust","Wells Fargo"],"articleSection":["Deals","Investment","News","Northeast","Office","Philadelphia"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/joss-buys-suburban-philly-office-assets\/","url":"https:\/\/www.commercialsearch.com\/news\/joss-buys-suburban-philly-office-assets\/","name":"JOSS Buys Suburban Philly Office Assets - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/joss-buys-suburban-philly-office-assets\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/joss-buys-suburban-philly-office-assets\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/11\/philly.jpg","datePublished":"2017-11-13T15:14:12+00:00","dateModified":"2018-08-08T16:13:42+00:00","author":{"@id":""},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/joss-buys-suburban-philly-office-assets\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/joss-buys-suburban-philly-office-assets\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/joss-buys-suburban-philly-office-assets\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/11\/philly.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/11\/philly.jpg","width":1000,"height":750,"caption":"One Pitcairn Place, Jenkintown, Pa."},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/joss-buys-suburban-philly-office-assets\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"JOSS Buys Suburban Philly Office Assets"}]},{"@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\/11\/philly.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004197222","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=1004197222"}],"version-history":[{"count":4,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004197222\/revisions"}],"predecessor-version":[{"id":1004197257,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004197222\/revisions\/1004197257"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004197224"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004197222"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004197222"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004197222"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}