NORRISTOWN, PA-Activity in this Philadelphia suburb picks up with two unrelated recent developments. A $4-million renovation of One Montgomery Plaza reaches completion, and the DeKalb Medical Building at 1401 DeKalb St. sells for $1.6 million.

Philadelphia-based AMC Delancey Group owns the 11-story, 225,634-sf, class A One Montgomery Plaza office building. The renovation encompasses an upgraded exterior appearance, new lobby, improved elevators, and new HVAC system. King of Prussia, PA-based Jackson Cross Partners is named exclusive leasing agent for the property, and Eric Gorman and Mary Frances McGarrity of Jackson Cross are handling the marketing.

“It is currently approximately 90% occupied,” according to Gorman. “There are a few small suites and up to 21,000 sf of contiguous space available,” he adds. The asking rental rate is undisclosed. Area brokers tell it is probably in the area of $20 per sf.

Meanwhile, the Philadelphia office of Marcus & Millichap brokered the Downtown medical building sale. Its office represented the seller and also secured the buyer, both of which are unidentified. While it is currently occupied primarily by medical practitioners with established practices under long-term leases, M&M says the building is also suitable for general offices.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.