Friday, May 27, 2016

Sentry Park East Office In Blue Bell Trades fro $2.175M

by Steve Lubetkin,
Sentry Park East, a 24,000-square-foot office property located in Blue Bell, PA was sold for $2.175 million.

“The buyer who was ultimately chosen was in a 1031 tax deferred exchange which allowed us to compress timelines, closing this transaction in 35 days,” says Grad.

“This acquisition represented the buyer’s first venture into the office segment,” says Newton. “We have a unique platform which caters to bringing capital from different product types to maximize proceeds for our seller.”

Sentry Park East, 1710 Walton Road in Blue Bell, PA, is a three-story building with five condominium units.  This sale represented one of the five office buildings within the condominium association.  The tenants of the office building are a mix of accounting, consulting and staffing firms with 76 percent occupancy. The property is close to the Pennsylvania Turnpike in the Blue Bell office submarket, one of the most prosperous areas in Montgomery County.

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