FLD Group of Eatontown, NJ, and New York’s Adjmi family have expanded their footprint in the Philadelphia suburbs with the $5.2 million purchase of an 83,000-square-foot office building at 2250 Hickory Road in Plymouth Meeting. The four-story property, currently about 45% occupied, sits adjacent to the five-building Plymouth Meeting Executive Campus the partners acquired last October for $65.5 million.

Located near the intersection of I-276 and I-476 and just north of Plymouth Meeting Mall, the acquisition gives the joint venture even greater control of the office market in the area. The partners, who also purchased Bala Plaza in Bala Cynwyd for $185 million in 2022 with plans for a large-scale mixed-use redevelopment, said there are no immediate plans to repurpose the Hickory Road building but view the location as a strong long-term investment opportunity.