Friday, March 7, 2014

Two Leases Totaling 80,000 SF Signed at CrossPoint

By John Jordan, contributing writer for Real Estate Forum and

The owners of the new CrossPoint at Valley Forge have announced they have signed two lease deals totaling 80,000 square feet at the 272,000-square-foot office development here.
The largest transaction was with Rovi Corp., an entertainment discovery firm, which signed a lease for approximately 65,000 square feet, according to officials with building owners The Davis Companies and MIM-Hayden Real Estate Funds. The CrossPoint at Valley Forge is currently undergoing a $19-million redevelopment that is nearing completion and recently received a temporary certificate of occupancy.
ColdLight Solutions, a firm engaged in advanced analytics, predictive technology and machine learning science, has inked a deal for 15,000 square feet at the property. With the lease signings, CrossPoint is current more than 60% leased. Prior to construction commencement on the redevelopment project, Teleflex Inc., a provider of medical devices used in critical care and surgery, signed an approximately 84,000-square-foot lease for its global headquarters.
Jonathan Davis, founder and CEO of The Davis Companies, states, “With this renovation, CrossPoint now offers best-in-class amenities. We understand that the place companies choose to call home is a key decision and know we have to offer the highest quality product to attract tenants of the caliber of ColdLight, Rovi and Teleflex. As employers we all want to attract the best talent to our teams; as creators of that work space The Davis Companies and our partners at MIM-Hayden are committed to offering a work environment that responds to our tenants’ every need. We are proud to have created one of the premier suburban office complexes in Philadelphia.”
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