Lanham, MD-based Ventura Commercial Mortgage arranged the loan. James V. Ventura, president, the exclusive financing representative in the transaction, says the financing "underscores the strength of the property's high quality tenants and the entire Bensalem (Twp.) market."
The 69,066-sf building is 94% leased. Among its lead tenants are the regional offices of Louisville, KY-based Yum! Brands, the fast food franchiser of KFC, Pizza Hut and Taco Bell, among others; the national accounting firm of H & R Block; and Prudential Financial. According to published reports, the average asking rental rate at the property is $24.50 per sf.
Northbrook Center was developed by King of Prussia, PA-based O'Neill Properties Group. Philadelphia-based Binswanger/CBB is the exclusive leasing agent.
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