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.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.