Wednesday, June 10, 2015

Westlakes Signs Five Leases After Renovations

by Steve Lubetkin,

Keystone Property Group has completed five lease transactions, including four new tenants and one expansion – totaling 20,000 square feet of absorption at Westlakes in Berwyn, PA. As Keystone completes a significant set of property improvements to its holdings at Westlakes One, Two, Three and Five, the rapid property lease-up is indicative of the significant demand for these modernized state-of-the-art office spaces.

“Today’s forward-thinking businesses understand the value of collaborative and exciting workspaces,” says Bill Glazer, president of Keystone. “With major upgrades to the buildings and grounds, we’ve created a fresh, stimulating environment that is conducive to both creativity and productivity and provides significant value to our tenants.”

The five new tenants are: SolarSense, an alternative energy company; Donovan Axler, a business law firm specializing in pension funds, hedge funds and small businesses; Jones Lang LaSalle; and Amring Pharmaceuticals, a global specialty generic pharmaceutical company. Additionally, the largest deal completed recently at Westlakes was with Berkshire Hathaway, which renewed and expanded its 17,954-square-foot Fox & Roach office by 3,808 square feet, reaching a total of 21,762 square feet.

Located near Route 202 and the Pennsylvania Turnpike, the property has undergone significant renovations in recent months, and has been transformed into a modern, amenity-rich work environment.

The four Keystone buildings all have indoor and outdoor WiFi and have received lobby and common area enhancements as well as new exterior landscaping and signage. Other upgrades include a new outdoor lounge area; the addition of a full-service deli; an expanded wellness center with new fitness equipment; and the addition of state-of-the-art conference facility.

“Given the success of our recent office transformations in the region, we knew that facilities with more holistic lifestyle amenities were in high demand,” Keystone partner Richard Gottlieb tells exclusively. “An office environment that provides the ability to dine, exercise and collaborate is really one that resonates with people.”

With onsite workout rooms and shower facilities available, and the adjacent Chester Valley Trail for running, walking and biking passing directly through Westlakes, the progressive property gives employees the ability to engage in mid-day exercise.

“Some of the most compelling features at the new Westlakes are the patios, break-out rooms and common areas, which are ideal for communal brainstorming sessions as well as after-work socializing,” says Gottlieb.

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