KING OF PRUSSIA, PA-GSI Commerce will close on the purchase of a new headquarters, the 104,000-sf office building at 935 First Ave., on July 9 and consolidate employees from three other locations here. It paid the owner, Plymouth Meeting, PA-based Brandywine Realty Trust, $17 million, or about $163.46 per sf, for the now-vacant property. Move-in is planned for late October.

In addition, GSI has an option to buy an adjacent pad site on which it can construct a “twin” building of the same size, Jeff Mack of Wayne, PA-based GVA Smith Mack, tells Mack represented GSI in the transaction, following a nine-month search. “We considered 12 properties, then narrowed it to three, before negotiating this acquisition,” Mack says. Tony Nichols represented Brandywine in-house on the sale.

Mack is now the exclusive agent for the sale or lease of GSI’s current 55,000-sf headquarters at 1075 First Ave. The asking sales price, Mack says, is $130 per sf, or just shy of $7.2 million. “The asking rental rate is $15 per sf, net,” he tells

Locally based GSI began as Global Sports International, which sold sporting goods. In the late 1990s it began developing websites for sporting goods retailers. Later, the company expanded to design and maintain websites for ecommerce in sports retailing, manufacturing and professional sports. Revenues exceeded $240 million in 2003. It currently employs about 400 and expects to add another 200 within two years.

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