WAYNE, PA-New leases for an aggregate of 82,540 sf have takenoccupancy in Valley Forge Office Center to 80%. Keystone PropertyGroup acquired the six-building, 515,795-sf complex for $64 millionin September2005.

Conshohocken-based Keystone specializes in acquiring propertiesthat Bill Glazer, its president, describes as “functionallyobsolete and capital-starved.” The Valley Forge complex, which wasbuilt in the 1970s, is among them and so is the two-building,140,000-sf Devon Park II, also located in this suburb, whichKeystone acquired in the same year. The redevelopment and lease upof both is ahead of schedule.

Stephen Kriz and Steve Cousart of the local office of CB RichardEllis represented Keystone in the three new leases for the ValleyForge center on E. Swedesford Rd. The largest is 39,463 sf in the656/676 buildings by Signal Holdings LLC. Fred Hesser of the HesserGroup represented the tenant.

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