Two largely vacant office buildings in Collegeville have changed hands for $6.2 million — representing a staggering 81% drop in value from their last sale in 2018.

Located at 200 and 400 Campus Drive, the buildings span a combined 183,363 square feet and were just 15% occupied at the time of sale. The significant vacancy rate, along with the nature of the foreclosure transaction, contributed to the dramatic price reduction.

Provident Bank, the previous owner, sold the properties to Audubon-based Globus Medical, a leading musculoskeletal solutions company. The buyer plans to occupy the buildings, giving new life to the campus and signaling a potential shift in the local office landscape.

This sale highlights the ongoing challenges in the office sector, while also illustrating how end-users are finding opportunities amid shifting market dynamics and reduced valuations.