Wednesday, September 5, 2012

660 West Germantown Pike to get major rehab

by Natalie Kostelni

Brandywine Realty Trust is investing $18.8 million in a building it bought earlier this year at 660 W. Germantown Pike.
Brandywine paid $9.1 million for the 154,392-square-foot property. It purchased the property from IMS Health, which had relocated, vacating the structure.
The extensive renovations include updating the lobby, building systems, chillers, roof and creating a cafeteria. The building was originally constructed in the 1980s for a single tenant.
“It’s a well-designed building and obviously a great location and the investment we’re making is to reintroduce that product to the market with a full-blown tenant amenity package and as state-of-the-art,” said Jerry Sweeney, president and CEO of Brandywine.
Brandywine already is a dominant landlord in Plymouth Meeting with buildings such as 401 Plymouth Road, Plymouth Meeting Executive and the Metroplex. By having a large footprint in that office submarket, Brandywine is well-positioned to capture tenants that are being squeezed out of other neighboring locations.

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