"The deal terms were very competitive," says Robert Cook, VP ofPhiladelphia-based Berwind Property Group, who is responsible forthe asset management of the building. The aggregate gross rentalvalue over the renewal term for a total of 10,266 sf isapproximately $847,000.
Van Buren Associates LP, a BPG affiliate, owns the 258,858-sfoffice, warehouse and manufacturing facility, which has justundergone renovations of common areas and entrances.Philadelphia-based Flynn Co. is the exclusive rental agent andKevin Flynn Jr. represented the owner.
With this renewal, the building is 71% occupied. Currently,55,000 sf of warehouse or manufacturing space and 20,500 sf offurnished office space is available.
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