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RADNOR, PA-Main Line Health has signed a long-term lease for Keystone Executive Center, a 100,462-square-foot building here owned by Keystone Property Group. The 10-year commitment for the entire two-story class A building is valued at $22.8 million.

Part of the Jefferson Health System, Main Line Health is a non-profit health system serving portions of Philadelphia and its western suburbs. Main Line’s SVP of facilities says the lease will enable the company to consolidate most of its corporate offices as well as its Home Care Network into a single location, reducing overhead costs by achieving efficiencies in square footage and workspace design.

Main Line’s corporate offices are currently located in and around Bryn Mawr and its Bryn Mawr Hospital campus. A company spokesperson could not immediately say exactly which buildings and departments would be relocated to Keystone Executive Center. Main Line’s VP of realty was not immediately available for comment.

Keystone Property Group, is a Bala Cynwyd, PA-based developer of office and industrial assets as well as manager of private equity real estate funds. Keystone says a key element of the transaction was $17.5 million in financing provided by Sovereign Bank for tenant improvements.

Keystone Executive Center is owned by Keystone Property Fund I LP. It is located at 240 Radnor Chester Rd. Mark Gola of Gola Corporate Real Estate represented Main Line Health in the transaction. Keystone was represented by Jeff Mack of Newmark Knight Frank Smith Mack [formerly GVA Smith Mack].

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