James P. Vesey, senior director with the capital markets group of Cushman & Wakefield, based in C&W's Philadelphia office, represented the seller and also procured the buyer. "This property represents a great opportunity for repositioning, and Hoffer Properties has the expertise and track record to lease the former Phico headquarters," he says.
Phico designed the unusual, now-vacant building to replicate the Amish barns typical of this area. Glass stairwells on either side of the structure resemble silos. The walls in the common areas of each floor are of imported Italian marble, and the marble floor of the main lobby is patterned after an Amish patchwork quilt.
Among the other building features are mahogany woodwork, including eight-foot mahogany doors, throughout; two floor-to-ceiling atriums spanning three floors; and an atrium with an interior garden on the lower level that spans four floors. There are 10-foot ceilings throughout and a covered walkway from the main parking lot. The building also contains a fitness center, cafeteria and executive dining room.
The property is located on a little more than 50 acres, and approximately 10 acres at the corner of Routes 114 and 11 are zoned for retail use. "This prime retail site stretches along Carlisle Pike, a highly traveled major commercial highway," Vesey says.
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