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BENSALEM, PA-Holy Family University pays Philadelphia-based PhiladelphiaTelco Credit Union more than $3 million, or about $112 per sf, for the27,000-sf office building at 1311 Bristol Pike here. It is the formerSpiegel Catalog Call Center, which has been vacant since Philadelphia Telcopurchased it for less than $3 million in 1999.

The building is located on 4.76 acres within easy access of I-95 andWoodhaven Rd. It joins the Catholic university’s existing campuses in NorthPhiladelphia and Newtown, PA. The university will renovate the building intoclassrooms for accelerated degree programs.

“In the future, the site may also host graduate business seminars,continuing education courses for professionals and other events,” says Patrick Green, asenior managing director of the Philadelphia office of Insignia/ESG.

Insignia represented Philadelphia Telco in its 1999 purchase of theproperty. Green, Dennis Durkin and Brian Smyth of Insignia were the sole brokers inthe sale to Holy Family.

The university was established in 1954 and operates under the ministry ofthe Sisters of the Holy Family of Nazareth.

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