C&W Brokers Procurement of Fully Leased Office Building

NEW YORK CITY-In the Greater Philadelphia region in Blue Bell, PA, the Union Meeting IV has sold to Berwind Property Group thanks to the brokering efforts of Mike Hines and Jim Vesey of Cushman & Wakefield. This deal is another score for C&W based here in its efforts to solidify its presence in the mid-Atlantic.

The property is three stories high and has a total of 62,402 sf of space, which is currently 100% leased, an added bonus for BPG. It’s located at 980 Harvest Dr. at the entrance of the Union Meeting Corporate Center business park.

BPG bought the building on behalf of BPG Investment Partnership V for which the company has raised $225 million of equity and to date, 23 properties in eight transactions. This property, according to BPG senior vice president Stephen M. Spaeder, is in an area “viewed as one of suburban Philadelphia’s more desirable office markets.” Also, BPG plans to continue to “source deals” for Investment Partnership V, according to Spaeder.