New Leases Push Towamencin III Lease-Up Above 60%

LANSDALE, PA-Four new leases aggregating 17,112 sf have pushed occupancy in the newly completed, 77,500-sf, class A office building at 1690 Sumneytown Pike to above 60%. This is the third building in the 30-acre Towamencin Corporate Center and the first to be developed by locally based Trefoil Properties.

“Leases and proposals are out for most of the remaining space,” Shelley Wolf Harris, SVP in the Wayne office of GVA Smith Mack, tells GlobeSt.com. “As soon as the lease-up is complete, Trefoil will break ground for 1670 Sumneytown Pike, an 88,500-sf class A building.” The asking rental rate in both properties is $27.75 per sf.

Harris and Neil Shupak, also a GVA Smith Mack SVP in Wayne, represented Trefoil. Tenants are CRF, a wireless biotech solution provider which signed on for 5,755 sf; SMART Link Medical, a pharmaceutical company that took 3,193 sf; Environmental Engineering Management, a specialist in the wastewater industry, who signed on for 4,035 sf, and Budge Industries, a car cover supplier, with 4,129 sf.

The Towamencin campus is located 200 yards from a Pennsylvania Turnpike interchange. It contains a Bones Grille restaurant, pond and nature trails, and plans call for a bank and other service retail.