John Susanin of Wayne, PA-based GVA Smith Mack represented the owner, O'Neill Properties, which is headquartered in King of Prussia. John P. Morrisey of King of Prussia-based Jackson Cross Partners negotiated for Paychex, which is a Rochester, NY-based nationwide provider of payroll, human resources, benefits and other outsourced business functions. Terms of the lease agreement are undisclosed, but the published asking rental rate for the property is $23.75 per sf plus electric.
Meanwhile, O'Neill also reports that its flagship office building in Horizon Corporate Center in nearby Bensalem, PA, which opened last July, is 72% leased. Among the tenants are JR Simplot Co., which is a global agribusiness company, and Full Spectrum, International SOS, NewarkInOne, and Strayer University. Horizon, located at the former site of Eastern State Hospital, is planned for commercial and retail development. Paul French of Philadelphia-based Binswanger/CBB is the listing broker.
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