Natalie Kostelni Reporter Philadelphia Business Journal
Acts Retirement-Life Communities, which has maintained its headquarters at 375 Morris Road in West Point for the last three decades, has paid $11.9 million for a building in Fort Washington for its new headquarters.
Acts purchased 420 Delaware Drive, an 80,000-square-foot office building originally built in 2006 by Liberty Property Trust and subsequently sold by the real estate investment trust in 2013 as part of a portfolio sale to Somerset Properties. Acts bought the building from an entity affiliated with Somerset.
The company will occupy the entire building and consolidate three locations and a total of 150 employees into the new space. Acts expects to complete its move in December. As a result of buying the Fort Washington building, Acts has put up for sale 375 Morris, a 51,170-square-foot building, and 812 N. Bethlehem Pike, a 27,347-square-foot building in Ambler. It will retain another 16,800-square-foot building it owns at 1936 West Point Pike in West point.
Full story: https://tinyurl.com/wwmlblb
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