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Acquisition & Renovation

1 N. Bacton Hill Road
Frazer, PA
20,000 square foot office

Located at the corner of one of suburban Philadelphia’s significant east-west thoroughfares, 1 N. BactonHill was comprised of two- 1980s style cedar framed office buildings. Located next to the Swedesford Corporate Center, an office condominium project developed by the owner, these two buildings were outdated,and only 50% occupied at the time of sale. Representing the seller, it was important to position the properties in a way that would generate the highest sales price. By extensively marketing the ability for a buyer to reposition the properties while still buying at an attractively low $85/SF, the seller’s goals were met. The buyer introduced a successful capital improvement program including an entirely new skin. Within a year of purchase, occupancy went from 50% to 97% with leases signed at higher rental rates.

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