Wednesday, January 25, 2017

Five Tower Bridge Suburban Office Bldg Back on the Market

The joint venture between Hayden Real Estate Investments, Miller Investment Management and The Davis Companies have decided to market for sale its Five Tower Bridge office building at 300 Barr Harbor Dr. in West Conshohocken, PA.

The 11-story, 222,058-square-foot, class A office building was developed by Oliver Tyrone Pulver in 2001. It consists of eight floors of office space above a three-level parking garage, and sits on nine acres overlooking the Schuylkill River, just minutes from I-76, I-476 and Center City. Tenants in the building include the Oracle Corporation and Sage Financial Group.

KBS Real Estate Investment Trust, Inc. sold the asset in 2012 for $70 million, or about $315 per square foot, according to CoStar data, which was $3 million less than KBS paid for the asset in 2008.
www.omegare.com

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