X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

EXTON, PA-In the first buy since its formation in September 2006, Hayden Real Estate Investments LLC has acquired the Marsh Creek Corporate Center from three local investors identified as Marsh Creek Associates One, Two and Five LP. The price is undisclosed but a source familiar with the transaction tells GlobeSt.com it was $36 million.

The 20-acre complex, located at the intersection of Routes 100 and 113, contains the four-story, 81,400-sf North Point office building and four flex facilities aggregating 184,359 sf. There is also a 1.5-acre pad currently ground leased to a 6,000-sf day care center for another 10 years.

North Point is 98% leased, and the flex buildings are 74% leased, according to Anthony Hayden Sr., chairman of the Conshohocken-based company in which his son, Anthony Hayden Jr. is also a principal. The elder Hayden tells GlobeSt.com, “the asking office-building rent rate is $22 per sf. The flex property is one of the places we can add value through lease-up,” he says, “and the rates range from $7 per sf for pure industrial space to $15 per sf for lab and office space in the buildings.”

The day care center offers additional upside potential, he says. “A better, future use of the land might be a bank branch,” he suggests.

Gene McHale, Mike Flynn and Taylor Young of Beacon Commercial Real Estate, also based in Conshohocken, represented both the sellers and the buyer, identified on the deed as Hayden Marsh Creek Associates LP.

As GlobeSt.com reported in September, the Haydens left Beacon, which was founded by the elder Hayden, to form the new firm devoted to acquiring commercial real estate assets and providing an equity partnership in new developments. Management of Beacon was turned over to McHale, Flynn and John Greenwald. The two companies are co-located, and Beacon handles Hayden’s brokerage activities.

The Hayden firm and Interland Real Estate Corp., a representative of the former owner, will manage the Marsh Creek asset. Beacon’s Young, who leased up North Point, and Anthony Hayden Jr. will work together on the additional lease up of the flex buildings.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. NET LEASE Spring 2021Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.