Linda Schultz, VP with the brokerage services group of the Wayne office of CB Richard Ellis, was the sole agent, representing the owner, American Baptist Churches. The aggregate value of the leases is undisclosed. According to fourth-quarter 2004 data from the Philadelphia office of CBRE, the average asking rental rate in this submarket, which has a vacancy rate of just under 16.5%, is $25.22 per sf.
Eastern University is a Christian university based in St. Davids. It operates the National Christian Conference Center in Valley Forge among other properties in eastern Pennsylvania. The N. Gulph Road location houses one of its 14 professional studies groups in the state along with other support facilities.
Knowledge InfoTech provides software consulting and outsourcing capabilities. It operates development centers in London and Hyderabad, India. The American Baptist campus has an on-site cafeteria, catering services and conference facilities.
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