CB Richard Ellis is the exclusive leasing agent, and SVP Dennis Durkin and Brian Smyth are marketing the property regionally and nationally.
The class A property was constructed in the late 1980s. Since then, Sears Consumer Credit Division was the major tenant. Citicorp, which acquired the Sears division last July, is closing the operation. Jerry Segal, Korman SVP, declined to disclose the cost or extent of what he calls "major renovations," which are to be completed in spring 2005. Meyer Associates, an architecture and interior design firm based in Ardmore is handling the renovation.
Durkin says, "the newly renovated Six will be ideally suited for full-floor tenants, multi-floor tenants, or a lead/major tenant with the potential for naming rights." He did not disclose the asking rental rate. The average asking rental rate for class A office space in the Lower Bucks County submarket is $24.96 per sf, according to second-quarter data from the Philadelphia office of Cushman & Wakefield, and $23.13 per sf, according to a similar second-quarter report from the Philadelphia office of CBRE, which puts the area's office vacancy rate at about 16.3%.
Neshaminy Interplex is a 78-acre community with 600,000 sf of office space in a multi-building, park-like setting that includes on-site daycare, a fitness center, a 300-room Radisson hotel and conference center, numerous restaurants, gardens and a fountain plaza courtyard with benches for outdoor eating. The complex is within 30 minutes of Center City Philadelphia and offers easy access to Septa rail lines, I-95 and the Pennsylvania Turnpike.
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