Tube City, which supplies raw materials and services to steel industries, is relocating to 4,581 sf of office space at 300 Four Falls Corporate Center in West Conshohocken, PA, a property owned by Philadelphia-based Berwind Property Group. The company will move in December 1.
Neil Gallagher, SVP of Wayne, PA-based GVA Smith Mack and the exclusive listing agent for 300 Four Falls, tells GlobeSt.com Tube City signed a 10-year lease at a significantly higher rental rate than was initially reported by GlobeSt.com. Noting that this building is BPG's trophy in the area, Gallagher says, "the Tube City rental rate begins at $29 per sf, plus electric, and increases by 50 cents a sf every year."
Philadelphia-based Binswanger/CBB represented Tube City in the transactions. According to Binswanger SVP Scott Gabrielsen, Tube City sold the King of Prussia property in an effort "to streamline operations. We were successful in finding a user buyer for the existing property and then identifying an efficient and strategically located building for them to lease space in."
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