The Entigo lease is for 100 Lindenwood Dr., an 18,400-sf office building in Valleybrooke, which is owned by Plymouth Meeting, PA-based Brandywine Realty Trust. The lease represents an expansion from 1,500 sf for Entigo, which provides Internet-based warranty claim management, primarily to the automobile industry, through its proprietary software. Terms of the lease were not disclosed. Area brokers tell GlobeSt.com the average asking rental rate is between $23 per sf and $25 per sf.
Further to the west, Keares Electrical Contracting acquired a 6,600-sf unit in a 40,000-sf multi-tenant industrial condominium at 603-605 Jeffers Circle in Downingtown. It paid in excess of $500,000, according to John P. Morrissey of Morrissey Partners TCN Worldwide, who negotiated this sale and the Entigo lease.
Demand for small buildings that are for sale is strong, Morrissey says, and supply is limited. "Smaller, competent companies are taking advantage of favorable interest rates and purchasing real estate instead of renting." Morrissey Partners is based in King of Prussia, PA.
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