Equus Acquires Wayne, PA, Office Park

WAYNE, PA—A fund managed by Equus Capital Partners has acquired Bay Colony Executive Park, a 247,294 square-foot four-building office park in Wayne, PA, from Brandywine Realty Trust. Terms were not disclosed.

“With the acquisition of Bay Colony, we will benefit from the transformation that is happening in the immediate area. This quadrant of King of Prussia/Wayne will soon be regarded as one of the true live/work/play environments in the Greater Philadelphia area,” says George Haines, vice president of Equus, who along with Joe Felici, directed the acquisition. “We recognize the real demand for modernized office space in amenity-rich locations. After a significant capital investment in building and campus upgrades, we believe that Bay Colony will be highly coveted by tenants in our marketplace.”

The property is at the intersection of I-76, US Route 202, the Pennsylvania Turnpike, and US Route 422, approximately 20 miles northwest of center city Philadelphia. The property was 88 percent leased at the time of closing.

Bay Colony Executive Park is 1.5 miles from the King of Prussia Mall and less than 1 mile from the Wegmans-anchored King of Prussia Town Center, which is currently under construction. Upon its completion, the Town Center will add new living, dining, shopping, and fitness options to the area. In the fourth quarter 2015, LifeTime Fitness, a high-end athletic club that has been central to other prime retail developments across the country, is expected to break ground on a 100,000± square-foot facility diagonally across Swedesford Road from Bay Colony and provide yet another desirable amenity to the area.