COLLEGEVILLE, PA—Maguire Hayden Real Estate Company is acquiring Highview I & II (200 and 400 Campus Drive) in Collegeville, PA, from TA Realty. Maguire Hayden paid $32 million for the 183,363-square-foot, class A office portfolio.
Joseph B. Hill, Jr., executive director with Cushman & Wakefield, led the Pennsylvania Capital Markets team of Robert Yoshimura, Eric Mattson and Joseph R. Hill in representing TA Realty.
“The portfolio represented an excellent opportunity to acquire class A, institutional-quality suburban office product offering stable, current yield and prominent credit tenancy in a superb, accessible location,” says Hill.
The two buildings, which are currently 93%-leased, are home to anchor tenants IQVIA, Fidelity Information Services and FirstService Residential. Highview I, located at 400 Campus Drive, totals 78,564 square feet and contains three floors. Highview II, located at 200 Campus Drive, totals 104,799 square feet over four floors.
The properties are near US Route 422, PA Route 29 and other regional roadways. Nearby arterial connections include I-76, the Pennsylvania Turnpike and US Route 202, providing accessibility to population centers within the Philadelphia MSA, including the Philadelphia CBD.
In addition, tenants benefit from a variety of amenities nearby, including Providence Town Center, King of Prussia Mall, Philadelphia Premium Outlets, as well as numerous hotels, restaurants, parks and entertainment facilities, such as the Valley Forge Casino Resort.