BALA CYNWYD, PA—Keystone Property Group has acquired and will redevelop One Belmont Avenue, also known as the GSB Building, in Bala Cynwyd, PA.

Situated in the bustling City Avenue commercial corridor, where Keystone now owns five office properties, One Belmont Avenue includes 245,000 square feet of prime office and ground-floor retail space. Keystone declined to disclose the purchase price, but industry sources familiar with the market say the deal was worth around $46 million.

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