Monday, February 20, 2017

Telerx jumps to new office building

by Natalie Kostelni Reporter, Philadelphia Business Journal
After conducting a search that took it to various office buildings throughout Horsham, Telerx Inc. has signed a lease to relocate its headquarters around the corner from its current offices off Dresher Road.

The company, a subsidiary of Merck & Co. Inc., signed an eight-year lease on roughly 45,000 square feet of space at 410 Horsham Road, an 88,045-square-foot building that is vacant and under redevelopment.

Telerx has been based in the Horsham area for 20 years and, though it wanted to stay in the area, the company was ready for a change. It occupies 50,000 square feet at 723 Dresher Road and recently vacated 17,000 square feet at 100 Lakeside Drive. While the size of the Dresher Road building worked for the company, the space, more like a warehouse rather than an office, wasn’t meeting its needs.

“We did consider staying there, but the cost to renovate would have been very high,” said Bud Herrmann, director at Telerx. A renovation would also be too disruptive to its business, Herrmann said. Telerx is a customer service call center operator that focuses on the health care industry.

Since the company has been in Horsham for so long with its 400 local employees familiar with the commute, Telerx decided to focus on the area. It looked at a handful of buildings and selected 410 Horsham because of its location, sufficient parking and access to a bus route, Hermann said.

The lease is a big one for the building, which has been vacant for years though its new ownership was intent on changing that status. PernaFrederick bought the property in the fall of 2015 from First Niagara Bank for $2.45 million and launched a gut renovation of it.

Built in 1990, the property had been fully occupied for years by TNS and Morning Star only to become vacant and taken over by its lender. This is the first attempt by the duo to venture beyond being brokers and trying their hand at also being a landlord.

Full story: http://tinyurl.com/jnbjvhv
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