Henderson Pays $42M for Philly-Area Office Campus
The firm purchased a five-building office portfolio in Newtown Square, Penn., its first real estate deal, part of its new strategic growth plan.
By Corina Stef
17 Campus Blvd., Newtown Square, Penn.
In a deal brokered by JLL, Brandywine Realty Trust has disposed of a 250,000-square-foot office portfolio in Newtown Square, Pa. The Henderson Group paid $42 million for the five buildings—its first real estate acquisition.
The assets are situated at 11, 14, 15, 17 and 18 Campus Blvd., in the close proximity of retailers, residential communities and parks, as well as historic landmarks such as the Aronimink Golf Club and Ellis Preserve. Four buildings are fully leased to diverse tenants including the Project Management Institute, Executive Health Resources and USDA Forest Service. The two-story, 50,000-square-foot property at 17 Campus Blvd., suitable for financial or professional services and healthcare companies, is available for lease.
The purchase is part of Henderson’s new growth plan, which includes expanding its footprint by acquiring office and flex properties in strategic areas, with a focus on Chester County and Montgomery County.
“Our 90-year history is rooted in construction and ground-up development and we’ll also continue to build new Class A space to meet our tenants’ evolving needs,” Henderson President & CEO Brian Wilbur Coyle said in a prepared statement.
Image courtesy of The Henderson Group
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