"The deal terms were very competitive," says Robert Cook, VP of Philadelphia-based Berwind Property Group, who is responsible for the asset management of the building. The aggregate gross rental value over the renewal term for a total of 10,266 sf is approximately $847,000.
Van Buren Associates LP, a BPG affiliate, owns the 258,858-sf office, warehouse and manufacturing facility, which has just undergone renovations of common areas and entrances. Philadelphia-based Flynn Co. is the exclusive rental agent and Kevin Flynn Jr. represented the owner.
With this renewal, the building is 71% occupied. Currently, 55,000 sf of warehouse or manufacturing space and 20,500 sf of furnished office space is available.
Chartwell specializes in general liability and workers' compensation and advises and represents insurance companies, self-insured entities and third-party insurance administrators.
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