Thank you for sharing!

Your article was successfully shared with the contacts you provided.

LEVITTOWN, PA-Bristol-based StoneMor Partners LP has signed a long-term lease for approximately 37,000 sf in the 90,000-sf office building at 311 New Rodgers Rd. The transaction is valued in excess of $8 million.

The owner/operator of cemeteries and funeral homes is relocating and expanding its headquarters. As GlobeSt.com recently reported, StoneMor has just entered into an agreement to buy 45 cemeteries and 30 funeral homes, which represents a 37% expansion of its current portfolio.

This lease takes occupancy in the New Rodgers Road building to 82%, according to a spokeswoman for the owner, the Wilmington, DE-based Buccini/Pollin Group Inc., which also has offices in suburban Philadelphia, Baltimore, Washington, DC and New York City. The asset, which is just off I-95, was fully renovated in 2002, she says.

Doug Newbert and Patrick Nowlan of Wayne-based GVA Smith Mack represented the owner in the negotiations. Brian Lafond of Plymouth Meeting-based Gola Corporate Real Estate represented StoneMor.

The owner’s spokeswoman says the rent rate in the building “is negotiable.” According to a third-quarter report from the Philadelphia office of Cushman & Wakefield, the average class A rent rate in Lower Bucks County is $26.97 per sf, while a Studley report pegs the office rate in this submarket at between $26.86 per sf and $27.44 per sf.

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
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


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 © 2020 ALM Media Properties, LLC. All Rights Reserved.