"The leasing market is off, but the sale market is hot, and there is a shortage of for-sale buildings of any type," according to Phil Earley, a principal of Wayne-based Lieberman Earley & Co., exclusive agent for the class A condo units. Three of the buildings have been sold, he reports. Groundbreaking is scheduled for next spring, and completion of the complex is anticipated for fall 2005.
There are four 5,400-sf buildings, two at 6,000 sf, two at 23,000 sf, and one each at 7,800 sf, 8,400 sf, 9,600 sf, and 32,000 sf for an aggregate of 137,000 sf on completion. Sales include complete buildings or fractional units beginning at 2,700 sf within buildings. The sale price ranges between $185 per sf and $195 per sf and includes a $20-per-sf interior finish allowance.
Knauer and Gorman are developing the complex under the name Oaklands Business Parks Inc., and their affiliate construction company, Knauer and Gorman Construction, is general contractor. The architect is Kennett Square-based Bernardon Habor Holloway.
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