"The Philadelphia metro area is a very strategic marketplace forus," says Thomas Ashforth, vice president of acquisitions for firm."It has a tremendously diverse business base, a great internationalairport, a good transportation system, good quality of life and agreat education base with universities like University ofPennsylvania, Temple and Drexel."

Last month, Ashforth announced plans to invest in cities suchas: Boston, Seattle, San Diego, Cincinnati and Columbus, OH,Nashville, Salt Lake City, Charlotte, NC, Tampa, FL., Sacramento,CA, Indianapolis, and northern New Jersey.

"We believe the purchase of the Valley Forge Office complexprovides an excellent cornerstone for the expansion of ourinvestment strategy," says James Korinek, chief investment officerfor Ashforth. He says that the company expects to make furtherinvestments in the area, adding that, "the Philadelphia region isunder-valued relative to major markets in the United States."