International Portfolio Acquisition
100 E. Lancaster Avenue
37,500 square foot office/retail
Acquired in a bank branch portfolio sale in 2005 by the seller, this former First Financial Bank Headquarters building was one of Downingtown’s most recognizable, and one of very few class A office buildings. The seller sought to spin off this property shortly after acquisition since the office building component did not fit into their strategy of acquiring only freestanding retail bank branches. With a merger with Willow Grove Bank in the works at the time to form Willow Financial (now part of Harleysville National Bank), downsizing offered some immediate rental upside through lease up of vacant office space. An adviser to a group of Irish investors noted the uniqueness and strength of the building relative to its submarket, and bought the asset of behalf of them.