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 GlobeSt.com 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.

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