COMMERCIAL PROPERTIES
Q1 2019 Update
|
|
As highlighted in our
2019 Annual Report to the Community
,
Momentum that Builds
, released this March, King of Prussia is experiencing a tremendous resurgence in the commercial office sector. King of Prussia represents the largest concentration of commercial office, industrial and flex buildings in the Philadelphia suburban region. Investor confidence is high and KOP is seeing a large number of office renovations, real estate transactions that have turned multi-tenanted buildings into owner occupied headquarters, a sharp increase in leasing activity and even some new office construction.
Given all of this recent action, King of Prussia District is not including occupancy/vacancy statistics in this eNews while we take this time to re-evaluate all of the King of Prussia commercial properties to ensure that we are presenting the most accurate information possible. We do anticipate sharing this information again when we issue our Q2 2019 Commercial Properties update this July.
Thanks as always for your support and interest in King of Prussia,
Eric Goldstein
Executive Director
King of Prussia District
|
|
Camber Spine Introduces New Headquarters in Moore Park
|
|
Founded in 2010, Camber Spine is a leading innovator in spine technologies. With continued growth on the horizon, the company officially opened its new headquarters at 501 Allendale Rd. in King of Prussia. This newly renovated 27,000 SF building features enhanced lab space for mechanical testing while creating office space to unite engineering, design and development teams with the company sales, training, quality and marketing units.
This fusion of departments in the new science and technology headquarters creates seamless collaboration for this young and impressive medical device company. “We are very excited to have moved into this brand-new facility which will help us continue to grow and develop and to keep pace with our clients' needs, allowing us to provide superior service along the way," stated Founder and CEO, Daniel Pontecorvo.
Beyond the immense impact Camber Spine has on spinal implant patients and the medical device industry, the company also made an important investment in King of Prussia by improving the value and visual impact of a fatigued commercial property in Moore Park. This improvement is just one of many taking place in the mixed use neighborhood that now boasts a diverse collection of life science and high tech companies, advanced manufacturing centers and financial institutions.
Camber Spine’s commitment to community doesn’t stop at the KOP border.
Camber Cares
describes the company culture represented by the employees through their collective efforts with the United Way. This new addition to KOP will join the column of corporate citizens that make this community great for residents, employees and visitors.
|
|
In the News
Brandywine to develop new office building in King of Prussia
Philadelphia Business Journal
Brandywine Realty Trust has plans to demolish an existing office building off First Avenue in King of Prussia to make way for a new 100,0000 SF office building.
Read More...
Upper Merion Township and King of Prussia District awarded $421,699 for First Avenue Linear Park
The Times Herald
The project that will transform a stretch of sidewalks and grass that is much longer than it is wide and is billed as a one-of-a kind recreational amenity for King of Prussia workers, turning commercial lawns into a close-knit space for walking, running or just hanging out on a sunny day, is gradually but surely moving along.
Read More...
Exclusive: Major development with 270 houses proposed for King of Prussia
Philadelphia Business Journal
A housing development has been proposed for an 80-acre parcel in King of Prussia, which is believed to be among the last large properties in the township that is undeveloped.
|
|
Commercial RE Transactions
Sales
|
|
Grimes Brothers Realty LLC
441 Feheley Dr.
$1.5M | 27,781 SF
Quercus Proeprties II LP
453 Crooked Ln.
$1.55M
Siochan Holdings LLC
653 Clark Ave. #13
$820K | 6,941 SF
American Baptist Churches in the USA
1015 W. Ninth Ave. #3
$1.3M | 10,000 SF
Baijia LLC
520-540 Shoemaker Rd.
$2.1M | 13,669 SF
Leasing
1150 First Ave.
13,414 SF
169 W Boro Line Rd.
11,570 SF
250 King Manor Dr.
10,000 SF
170 N Henderson Rd.
9,522 SF
640 Freedom Business Center Dr.
7,586 SF
620 Freedom Business Center Dr.
4,918 SF
630 Freedom Business Center Dr.
4,172 SF
215 W Church Rd.
3,430 SF
1000 W Ninth Ave.
3,308 SF
500 Lower E Valley Forge Rd.
3,000 SF
371 E Church Rd.
2,600 SF
|
|
600 W DeKalb Pk.
2,500 SF
170 N Henderson Rd.
2,291 SF
150 Allendale Rd.
1,501 SF
491 Allendale Rd.
1,295 SF
1150 First Ave.
1,220 SF
Showcase
1,313 SF
Pink's Hot Dogs
481 SF
Charles P. Rogers
1,359 SF
bartaco
5,331 SF
California Tortilla
1,563 SF
John Hardy
946 SF
Morphe
5,458 SF
Cinnabon
710 SF
Fabletics
2,634 SF
Heart + Paw
3,418 SF
Spavia
2,461 SF
* Commercial Office
* Retail
Not a complete listing.
Retail leases submitted to King of Prussia District for Q1 2019, as of 4/25/19. All other sales and leasing info from CoStar.
|
|
|
King of Prussia District is a 501(c)(3) not-for-profit, special services organization.
King of Prussia District engages public and private partners to collaboratively
improve the economic environment in King of Prussia by making it more vibrant,
attractive and prosperous.
|
|
DISCLAIMER: All information obtained using CoStar Analytics and field checked for accuracy by King of Prussia District. Vacancy rates are calculated using existing, non-owner occupied commercial buildings in Upper Merion Township only, over 10,000 SF, Class A, B, and C plus retail, industrial and flex. King of Prussia District uses "Direct % Vacant Available" in its vacancy reporting. All industrial and flex statistics are NNN.
|
|
234 Mall Boulevard, Suite 150, King of Prussia, PA 19406
|
|
© 2019 King of Prussia District. All rights reserved.
|
|
|
|
|
|
|
