MALVERN, PA—Hayden Maguire Real Estate Fundshas purchased 1200 Atwater Drive here for $23million.

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The West Conshohocken, PA-based fund purchased the151,447-square-foot office building from Invesco RealEstate. The building at the Atwater Corporate Park atRoute 29 was built by Trammell Crow Co. as a regional headquartersfor Allstate Insurance Co. more than a decade ago, according to thePhiladelphia Business Journal.

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Hayden Maguire Real Estate Funds has holdings in Exton, PA, theValley Forge, PA area and Conshohocken, PA and was looking to add aMalvern, property to its portfolio, according to TonyHayden Jr.

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"Malvern was a hole we had in our portfolio and with thepurchase of this building we will now have options along thosethree stops of the Pennsylvania Turnpike," Hayden says.

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Dan Mayock and Adam Gillespieof SSH Real Estate arranged the off-market sale.See story in the Philadelphia Business Journal.

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John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.