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WEST CONSHOHOCKEN, PA-A private real estate investment partnership has acquired the two-story, 5,000-sf office building at 920 Matsonford Rd. here. The site sold for nearly $1.2 million, or approximately $237.20 per sf.

Identified as a limited partnership named for the street address, the buyer entity includes Villanova Development Center, which is a full-service real estate investment and development firm that owns, operates and manages more than two million sf of commercial property throughout the northern US. Villanova is currently based in 2,300 sf at 15 Industrial Blvd. in Paoli, a Philadelphia suburb approximately 12 miles east of here.

James J. DiBianca, VP of Conshohocken-based Beacon Commercial Real Estate, was the sole agent in the agreement of sale and represented the seller, identified as 920 Ford Street LLC. DiBianca says the Villanova center will relocate its staff of about 10 employees to the new building within the next two months “or as soon as redecoration and furnishings are completed in the new location.”

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