{"id":1004278928,"date":"2018-11-13T10:29:43","date_gmt":"2018-11-13T18:29:43","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004278928"},"modified":"2022-12-07T17:31:42","modified_gmt":"2022-12-08T01:31:42","slug":"blue-stone-acquires-pa-office-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/blue-stone-acquires-pa-office-asset\/","title":{"rendered":"Blue Stone Acquires PA Office Asset"},"content":{"rendered":"<p>By IvyLee Rosario<\/p>\n<div id=\"attachment_1004278934\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/11\/1001-Adams-Ave..jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004278934\" data-attachment-id=\"1004278934\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/blue-stone-acquires-pa-office-asset\/1001-adams-ave\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/11\/1001-Adams-Ave..jpg\" data-orig-size=\"800,620\" 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;1&quot;}\" data-image-title=\"1001 Adams Ave.\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;1001 Adams Ave.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/11\/1001-Adams-Ave..jpg?w=800\" class=\"wp-image-1004278934 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/11\/1001-Adams-Ave..jpg\" alt=\"\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/11\/1001-Adams-Ave..jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/11\/1001-Adams-Ave..jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/11\/1001-Adams-Ave..jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004278934\" class=\"wp-caption-text\">1001 Adams Ave.<\/p><\/div>\n<p>Blue Stone Capital has acquired an office property in Audubon, Pa., for $20 million. Newmark Knight Frank&#8217;s Capital Markets team represented the seller, Delaware Valley Real Estate Investment Fund LP, in the deal.&nbsp;<\/p>\n<p>The NKF Capital Markets team included Senior Managing Directors Mike Margolis and Dave Dolan, Managing Director Dave Garonzik and Executive Managing Director Jeff Mack.&nbsp;<\/p>\n<p>Located at 1001 Adams Ave., the property comprises 136,918 square feet. The asset is 100 percent occupied by Optum 360, a UnitedHealth Co. The building includes features such as a full-service cafeteria, outside patio, meeting areas, an on-site fitness center with showers and video conferencing spaces. The property is within close proximity to Route 422 and the heavily used Trooper Road.&nbsp;<\/p>\n<p><em>\u201cThis property offered investors an opportunity to acquire a well-maintained, modern office property with a credit tenant in the highly desirable health-care industry,\u201d<\/em> said&nbsp;Dolan, in a prepared statement.&nbsp;<\/p>\n<p>Last week, Newmark Knight Frank represented a joint venture led by SteelWave in the <a href=\"https:\/\/www.commercialsearch.com\/news\/jv-sells-seattle-office-flex-park-for-142m\/\">$141.7 million sale of Canyon Park Business Center<\/a>, a 17-building, 632,591-square-foot property in the Seattle suburb of Bothell.&nbsp;<\/p>\n<p><em>Image courtesy of NKF Capital Markets&nbsp;<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Newmark Knight Frank&#8217;s Capital Markets team represented the seller, Delaware Valley Real Estate Investment Fund LP, in its disposition of 1001 Adams Ave., a 137,000-square-foot building in Audubon. <\/p>\n","protected":false},"author":746,"featured_media":1004278934,"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":[36007],"class_list":["post-1004278928","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-investment","category-latest","category-northeast","category-office","category-philadelphia","tag-newmark-knight-frank"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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