A fully leased suburban Philadelphia office property is heading to market. The asset is anchored by pharmaceutical giant Cencora.
PRP Real Assets, based in Washington, D.C., has listed the 429,120-square-foot building at 1 West First Avenue in Conshohocken, Pennsylvania for sale.
The 11-story property was developed as a built-to-suit headquarters for Cencora. The building was completed in 2021 during the early years of the pandemic.
Cencora occupies the entire building for its corporate operations. The long-term tenancy provides stability in a market still recalibrating post-COVID.
The property anchors the Sora West district, a mixed-use development in Conshohocken. The project was led by Keystone Property Group in partnership with the Montgomery County Redevelopment Authority.
Sora West was designed to create a more walkable and mixed-use environment within the Philadelphia suburbs. The listing now tests investor appetite for stabilized, credit-backed office assets.
The offering signals renewed confidence in well-leased suburban office properties. It also provides insight into how capital markets view post-pandemic office fundamentals.
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.
Please visit our websites for a full listing of Philadelphia commercial properties for lease or sale, www.wolfcre.com.
