Tuesday, July 5, 2011

Conshohocken office building sells for $4M

by Natalie Kostelni

"An office building in Conshohocken, Pa., has sold for $4 million, in what may be the first office property to trade in that submarket since 2005 when 300 Four Falls sold for a eye-popping $100 million.

Though not on that scale, this recent transaction may be the beginning of other sales to come in the submarket.

A partnership out of Jenkintown bought the 31,000-square-foot building at 375 Elm St. from Royal Bank, which had taken the property over. The building, constructed 10 years ago, is half-empty but the buyer is planning to make interior and exterior upgrades."


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