Pat Kelley and Sean O'Reilly of Cushman & Wakefield of Pennsylvania Inc. brokered for PFPC. O'Neil was represented by Jeff Mack of Smith Mack & Co. in the transaction. PFPC occupies all but 30,000 sf of the fully tenanted property with the remainder leased to ITT Technical Institute. While the lease term has not been disclosed, the rate is roughly $21 per sf plus electric, according to a source close to the deal.
The single-story asset, which is located at 760 Moore Rd., sits on a 25-acre parcel and is said to be the largest contiguous newly renovated class A office space in the King of Prussia market. Potential uses of the property include office, R&D and light industrial.
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