HRPT paid Affiliated Equities Real Estate LP of Newtown Square,PA about $138.61 for the 23-acre property at 9040 Roswell Rd. Thelead tenant is Affiliated Computer Systems. Brokers Gary HollowayJr., Morgen J. Busch and R. Eric Mattson Jr. of GMH CapitalPartners of Newtown Square, PA handled the transaction.
"This property was initially marketed in 2003," says Holloway, aGMH senior vice president. "However, we decided to reposition it inthe marketplace with capital improvements, as well as assistownership in a renewal/recast of the ACS lease for an additionalfive years." Holloway adds, "Once those two key factors were inplace, we were able to yield a higher valuation, which follows ourmission of value creation for our clients."
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