Monday, November 26, 2018

Blue Stone Capital Pays $20 Million for Suburban Philadelphia (Norristown) Office Building

Brooklyn, New York-based Blue Stone Capital, a full service investment firm, purchased a 136,918-square-foot office building in Norristown, Pennsylvania, from Regional Real Estate Investment Corp. for $20 million, or about $146 per square foot.

The three-story structure at 1001 Adams Ave. is fully leased to Optum 360. Built in 2001, the Class A property spans 12 acres less than 20 miles from downtown Philadelphia.

The property offered investors an opportunity to acquire a well-maintained, modern office property with a credit tenant in the highly desirable health care industry.”

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