Upper Merion Township is pursuing plans for a $200 million entertainment district in King of Prussia. The proposal centers on a 16.8-acre site within the Moore Park business complex on First Avenue. Plans call for a mixed-use destination anchored by a stadium with seating for more than 7,500 spectators. The venue could accommodate professional baseball… Read more »
Brandywine Realty Trust has sold a fully leased office building in King of Prussia for $41.5 million. Harbor Group International acquired the 100,820-square-foot property at 500 North Gulph Road. The sale price equates to approximately $412 per square foot. UGI Corp. occupies the entire five-story building as its corporate headquarters. The long-term lease provided an… Read more »
Three buildings in Renaissance Park, including Conshohocken Brewing Co.’s King of Prussia location, sold for $17.5 million. The buyer was Seyon Group, a Boston-based investor expanding its Philadelphia-area portfolio. MLP Ventures, led by Brian O’Neill, served as the seller. The properties total roughly 100,000 square feet. They include 3600, 3602 and 3100 Horizon Drive. Conshohocken… Read more »
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… Read more »
Parkview Tower, a 10-story, 221,000-square-foot office building in King of Prussia, is slated for a sheriff’s sale on July 30, according to a notice from the Montgomery County Sheriff’s Office. The auction will be held via the online platform Bid4Assets. The property, owned by West Conshohocken-based real estate firm Keystone, is tied to a commercial… Read more »
King of Prussia business leaders express cautious optimism as office occupancy in the growing suburban center continues to rise. According to CoStar data, occupancy in Upper Merion Township office buildings has reached 89.3%, the highest since tracking began in 2011. However, this rate excludes smaller buildings and owner-occupied spaces. CEO Eric Goldstein acknowledges the importance… Read more »
Expanding its presence in King of Prussia, the Children’s Hospital of Philadelphia has acquired a 97,290-square-foot office building located at 460 N. Gulph Road for $24.5 million. This new property sits opposite CHOP’s recently constructed Middleman Family Pavilion and its accompanying specialty care center. The acquisition was from UGI Corp., which had purchased the building… Read more »
