The complex is located near the Downingtown interchange of thePennsylvania Turnpike. "The location is a part of the Downingtown,Route 100 market we want to penetrate," Jim Mazzarelli, Liberty'sSVP and regional director, tells GlobeSt.com. "We think it's one ofthe paths to growth in the Philadelphia suburbs." Citing aconfidentiality agreement, he declined to disclose the price.
The complex consists of one-story buildings containing 39,805sf, 36,040 sf and 32,000 sf, respectively. According to Mazzarellithey require only minor renovations and cosmetic upgrades.
The asset is currently 67% leased, and Verizon, GE Capital andKidde Fire Protection are among the tenants. The published rentalrate is $21.50 per sf.
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