Bluestone Lease Takes Occupancy at Folcroft Center to 100%

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FOLCROFT, PA-In separate, unrelated transactions two expanding Delaware County businesses inked leases for an aggregate 36,000 sf. Bluestone Communications Inc. leases 10,000 sf at 780 Primos Ave., which takes occupancy at the two-building Folcroft Business Center to 100%. A local businessman leases the entire 26,000-sf flex/industrial building at Three Horne Drive in Folcroft West Business Park.

The Bluestone lease for office and warehouse space has a five-year term and an aggregate value of $300,000, according to Steve Italiano, SVP of industrial property in the Wayne office of CB Richard Ellis. He was the sole agent and represented Mark II Associates, which owns the 100,000-sf complex at 780-800 Primos Ave. Other tenants in the center are Philadelphia Newspapers Inc., DSI, Apria and FedEx Ground.

Italiano also represented Three Horne LP, which acquired the building at that address in July and subsequently renovated it. The tenant, G. Southern, is relocating and expanding its truck repair and servicing business from smaller facilities in Chichester Twp. Terms of this lease are undisclosed. According to third-quarter data from the Philadelphia office of Cushman & Wakefield, industrial space in Delaware County ranges from $4.44 per sf to $5.44 per sf.