The 91,748-sf office building at 550 Pinetown Rd. within FortWashington Office Park is currently 96% leased to 44 tenants andthe average tenant space is 2,000 sf. "We were drawn to thebuilding because of its strategic location and its long-standingability to attract and retain smaller tenants," Jim Watson ofMaguire tells GlobeSt.com. "The small tenant market is a niche thatwe believe is underserved within the submarket."

Watson compares this property to the 12-story, 240,000-sfbuilding Maguire owns in Lower Merion, which also contains numeroussmall-space users. "We know how to served small tenants." Thisacquisition follows Maguire's purchase of the six-buildingPinebrook Business Center office facility in Valley Forge thissummer. All of its properties, with the exception of afour-building complex near Pittsburgh, are in Philadelphia'sPennsylvania suburbs and in Southern New Jersey.