Sunday, September 27, 2015

PernaFrederick Buys Horsham Office Building

by Steve Lubetkin,
A private limited real estate investment partnership led by Steve Perna and Matt Frederick, principals of PernaFrederick Commercial Real Estate, has purchased the 88,045 square foot, two-story office building at 410 Horsham Road, Horsham, PA for $2.45 million.

The building, built in 1990, once housed the local offices of TNS-Intersearch and Morningstar. PernaFrederick bought the property from First Niagara Realty, Buffalo, NY.

Situated on 7.6 landscaped acres with expansive exposure to Horsham Road (Route 463), 410 Horsham Road presents the opportunity for monument tenant signage to the over 31,000 cars daily and has on-site parking in a ratio of five spaces for every 1,000 square feet leased.  It is also accessible from Route 611.

“We believe 410 Horsham Road presents an excellent opportunity to enter a very mature and rebounding office market that has few large blocks of available space,” says Steve Perna. He says the building represents a prime redevelopment opportunity both as a corporate headquarters or multi-tenant building.

The two 44,000 square foot floors may be divided to suites of 22,000 square feet. 410 Horsham is adjacent to the Horsham Athletic Center, and a full service day care provider.

PernaFrederick says it has started major renovations to include a new lobby, restroom upgrades, landscaping, facade, and other building system enhancements with completion of those improvements scheduled for early 2016.

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