Months After Relocating Saint-Gobain, Developers Flip Malvern Campus to 90 North

Philadelphia Mayor Michael Nutter, fourth from right, helps cut the ribbon at Saint-Gobain’s new headquarters in Malvern last November. Developers have sold the property to a partnership of Chicago-based 90 North Real Estate Partners and Arzan Wealth for $123 million. (Steve Lubetkin Photo/StateBroadcastNews.com)

MALVERN, PA—Months after relocating international building products firm Saint-Gobain to a redeveloped office campus here, E. Kahn Development, J. Loew & Associates, and AEGON US Realty Advisors have sold the Saint-Gobain North American Headquarters, a two-building, 65-acre corporate campus in Malvern, PA, to Chicago-based 90 North Real Estate Partners and Arzan Wealth for $123 million.

“This acquisition truly reflects and embraces our definition of ‘trophy’ credit,” says Daniel Cooper, partner and head of 90 North’s North American operations, said.  “The property is occupied by Saint-Gobain, a Global 200, S&P rated BBB-company under a 15-year lease agreement with additional renewal options.”