Bresler & Reiner also owns the three other buildings thatmake up the five-building Northbrook Corporate Center. The othertwo buildings are small, single-occupancy buildings. The totalsquare footage of the center is approximately 340,000 sf.

The class A space at 1150 Northbrook Dr. was leased for $26 persf, which is priced at the top of the Northbrook Corporate Center'slease prices. The rental rates start at $21.22 and average leaseprice is $23.85 per sf. According to GVA Mack Smith's first quarterstatistics, the average asking rate in Lower Bucks County was$23.07 per sf. Direct vacancy was at 19.2% and 21.1% vacancyincluding sublet space.

HCI Direct, the company that signed the lease, is a premierdirect marketing company that produces the brands such as SilkiesEnriche skin care, Pain Vanish pain relief products, Silkies hosierand Sculpz shapewear.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
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.