{"id":3123,"date":"2020-11-18T08:21:05","date_gmt":"2020-11-18T13:21:05","guid":{"rendered":"https:\/\/www.lee-associates.com\/pennsylvania\/?p=3123"},"modified":"2025-04-21T13:02:16","modified_gmt":"2025-04-21T17:02:16","slug":"lee-associates-of-eastern-pennsylvania-arranges-18-0-million-sale-of-a-101450-sf-class-a-office-building-in-newtown-pa","status":"publish","type":"post","link":"https:\/\/www.lee-associates.com\/easternpa\/2020\/11\/18\/lee-associates-of-eastern-pennsylvania-arranges-18-0-million-sale-of-a-101450-sf-class-a-office-building-in-newtown-pa\/","title":{"rendered":"Lee & Associates of Eastern Pennsylvania Arranges $18.0 Million Sale of a 101,450 SF Class A Office Building in Newtown, PA"},"content":{"rendered":"

November 18, 2020 9:00 AM EST<\/p>\n

Excellent Location, Strong In-Place Tenancy & Value-Add Component Attracted Wide Market Interest<\/em><\/strong><\/p>\n

NEWTOWN, PA, November 18, 2020 \u2013 Lee & Associates of Eastern Pennsylvania\u2019s Capital Markets team orchestrated the $18.0 million sale of a 101,450 square foot, Class A office building located at 100 Brandywine Boulevard in Newtown, PA. An affiliate of Pembroke IV purchased the building from a client of Washington Capital Management. At the time of sale, the facility was 79.2% leased by three (3) tenants.<\/p>\n

Lee & Associates of Eastern Pennsylvania\u2019s Capital Markets team consisting of Bob Yoshimura, Joe Hill, Eric Mattson and Joe Hill, Jr. represented Washington Capital\u2019s client in the sale.<\/p>\n

\u201cThe building is situated in one of the strongest suburban office submarkets in the Philadelphia MSA. The facility\u2019s prime location off of I-295 combined with its exceptional in-place tenancy attracted a wide array of investors to this opportunity. Additionally, with just over 20% of the building currently unoccupied, the buyer will be able to create value through lease-up of the vacant space,\u201d said Yoshimura.<\/p>\n

The building offers convenient accessibility from Philadelphia through Princeton, as both cities are located within approximately 30 minutes of drive-time distance.<\/p>\n

\u201cThe Newtown\/Yardley submarket has quickly developed into a desirable suburban office location for companies looking to be situated between Philadelphia and Princeton. The highly educated workforce, in conjunction with the competitive rental rates and the lower income tax burden that Newtown provides, has attracted both corporate tenants and institutional investors to this area in recent years,\u201d added Hill.<\/p>\n

The sale of 100 Brandywine Boulevard represents the second major transaction that the Yoshimura\/Hill Capital Markets team has recently been involved with in this submarket. In 2018, the team brokered the sale of Lower Makefield Corporate Center in Yardley, which is a Class A, 8-building, 466,000 SF office portfolio, for $85.25 million.<\/p>\n

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About Lee & Associates of Eastern Pennsylvania<\/u><\/strong><\/p>\n

Lee & Associates of Eastern Pennsylvania began operations in May 2015 under the leadership of Principals Brian Knowles, CCIM, SIOR, and John Van Buskirk, SIOR.\u00a0 Long recognized individually as national leaders in the industrial real estate business, they have chosen to take their over 45 years of combined real estate experience in a new direction \u2013 as broker-owners of this new initiative.\u00a0 Lee & Associates of Eastern Pennsylvania is committed to providing market-leading research and support while remaining grounded in exceptional client service. For the latest news from Lee & Associates of Eastern Pennsylvania, follow us on Facebook<\/a>, LinkedIn<\/a>, Instagram<\/a> and Twitter<\/a> or visit us on the web at http:\/\/www.lee-associates.com\/pennsylvania<\/a><\/p>\n

About Lee & Associates<\/u><\/strong><\/p>\n

Lee & Associates offers an array of real estate services tailored to meet the needs of the company\u2019s clients, including commercial real estate brokerage, integrated services, and construction services. Established in 1979, Lee & Associates is now an international firm with offices throughout the United States and Canada. Our professionals regularly collaborate to make sure they are providing their clients with the most advanced, up-to-date market technology and information. For the latest news from Lee & Associates, visit\u00a0lee-associates.com<\/a>\u00a0or follow us on\u00a0Facebook<\/a>,\u00a0LinkedIn<\/a>,\u00a0Twitter<\/a>\u00a0and\u00a0Link<\/a>, our company blog.<\/p>\n

Read More About Office Properties<\/strong><\/p>\n