Lee & Associates of Eastern Pennsylvania Arranges Sale of a 280,034 SF Class A Office Complex in Newtown, PA

Excellent Location, Strong In-Place Tenancy & Value-Add Component Attracted Wide Market Interest 

 

MALVERN, PA, July 30th, 2021 – Lee & Associates of Eastern Pennsylvania’s Capital Markets team orchestrated the sale of a 280,034 square foot, five (5) building, Class A office complex known as The Lindenwood Corporate Center in Malvern, PA. Bridge Investment Group purchased the complex from TA Realty Associates. At the time of sale, the facility was 73% leased by twenty-four (24) tenants.

Lee & Associates of Eastern Pennsylvania’s Capital Markets team consisting of Bob Yoshimura, Joe Hill, Eric Mattson and Connor Sanbower represented TA Realty in the sale. Market expertise was provided by Gene and Colin McHale of Beacon Commercial Real Estate.

“The campus is situated in one of the strongest office submarkets in the Western Philadelphia Suburbs. The facility’s prime location at the interchange of Rts. 202 and 29, just south of the Pennsylvania Turnpike slip ramp, combined with its exceptional in-place tenancy attracted a wide array of investors to this opportunity. With nearly 30% of the building currently unoccupied, the buyer will create upside value through lease-up of the vacant space at rents higher than current in-place tenancy,” said Yoshimura.

“The Malvern Submarket is a highly desirable suburban office location ideally situated near numerous amenities and has the ability to satisfy tenant’s needs in both single and multi-story buildings,” added Hill.

The sale represents the third major office transaction that the Yoshimura/Hill Capital Markets team has recently been involved within the Philadelphia Suburban Market since 2020. In 2020, the team brokered the sale of Cricklewood Green in Newtown, which is a Class A, 81,640 SF office portfolio, for $12.2 million. Additionally, they closed 100 Brandywine Blvd in Newton, a 101,450 SF Class A building for $18.0 million.

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About Lee & Associates
Celebrating more than 40 years of leadership excellence in commercial real estate, Lee & Associates is the largest broker-owned firm in North America with locations across the U.S. and Canada including California, Colorado, Arizona, Florida, Georgia, Idaho, Illinois, Indiana, Kansas, Maryland, Michigan, Missouri, Nevada, New Jersey, New York, North Carolina, Ohio, Pennsylvania, South Carolina, Texas, Toronto, Ontario, Vancouver BC and Wisconsin. With more than 1,000+ brokers nationwide, Lee & Associates provides a wide range of specialized commercial real estate services on a local, regional and national level.

The Lee & Associates of Eastern Pennsylvania Capital Markets Team is led by Robert. (“Bob”) Yoshimura and Joseph B. (“Joe”) Hill. The team has been together for over 25 years and have worked on numerous successful transactions throughout the Pennsylvania, New Jersey, Delaware and Maryland markets. The group also includes R. Eric (“Eric”) Mattson and Connor R. (“Connor”) Sanbower. Comprehensive services provided by the team includes full-service brokerage, with a successful track record representing sellers and providing guidance with debt placement as well as assisting owners with the recapitalization of existing assets. For the latest news from Lee & Associates, visit lee-associates.com/pennsylvania or follow us on LinkedIn,  Facebook, Instagram and Twitter.

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