Philly-Area Office Trades, Lands $45M Financing
ByValley Creek Corporate Center, a 259,200-square-foot office complex in Exton, Pa., has come under new ownership in a transaction valued at $45.3 million. HFF marketed the Philadelphia-area property on behalf of the seller, a real estate investment management and advisory company, and orchestrated financing for the buyer, a joint venture of Pembroke IV and Ten Capital Management.
Developed by Rubenstein Partners, the three-building Valley Creek at 220, 222 and 224 Valley Creek Blvd. made its debut in 2002. “This ‘best-in-class’ asset boasts an impressive mix of global corporate headquarters and credit worthy tenants and is situated in the Route 202 corridor, one of suburban Philadelphia’s most desirable locations,”Doug Rodio, senior managing director with HFF, said in a prepared statement. The property, sited roughly 30 miles from Philadelphia, is 95.2 percent leased and counts Analytical Graphics, iPipeline and Autotrader.com among its occupants…
