A three-building office complex in Wayne, just minutes from the King of Prussia Mall, has sold for $67.6 million. The campus, totaling 250,185 square feet, includes the properties at 1170, 1180, and 1190 Devon Park Drive.
Chicago-based Mesirow Sale-Leaseback Capital acquired the complex from M&H Properties of Wynnewood. The transaction reflects a price of $270 per square foot, only slightly higher than what the property commanded in a sale more than ten years ago.
Insurance provider USLI occupies the entire campus under a long-term lease, utilizing the site as its corporate headquarters. Mesirow has indicated that the property will remain dedicated to office use under its ownership.
Wolf Commercial Real Estate, a full-service CORFAC International brokerage, advisory and property management firm, is a premier commercial real estate broker that provides a full range of commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other commercial properties for buyers, tenants, investors and sellers.
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