The owner/operator of cemeteries and funeral homes is relocatingand expanding its headquarters. As recently reported,StoneMor hasjust entered into an agreement to buy 45 cemeteries and 30 funeralhomes, which represents a 37% expansion of its currentportfolio.


This lease takes occupancy in the New Rodgers Road building to82%, according to a spokeswoman for the owner, the Wilmington,DE-based Buccini/Pollin Group Inc., which also has offices insuburban Philadelphia, Baltimore, Washington, DC and New York City.The asset, which is just off I-95, was fully renovated in 2002, shesays.


Doug Newbert and Patrick Nowlan of Wayne-based GVA Smith Mackrepresented the owner in the negotiations. Brian Lafond of PlymouthMeeting-based Gola Corporate Real Estate represented StoneMor.


The owner's spokeswoman says the rent rate in the building "isnegotiable." According to a third-quarter report from thePhiladelphia office of Cushman & Wakefield, the average class Arent rate in Lower Bucks County is $26.97 per sf, while a Studleyreport pegs the office rate in this submarket at between $26.86 persf and $27.44 per sf.

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

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