Kairos Repositions Suburban Philly Office Campus
- Nov 14, 2016
King of Prussia, Pa.—Kairos Real Estate Partners has successfully repositioned the 400,000-square-foot Apex office campus in Fort Washington, Pa. Since acquiring the three-building property in December 2014, Kairos has leased 190,000 square feet of space, having attracted notable anchor tenants such as Citizens Bank, Allstate Insurance, Lincoln Investments and Impax Labs.
Three new tenants have signed eight-year leases totaling more than 60,000 square feet in September and October. The agreements include:
- Citizens Bank’s 38,000-square-foot lease; the company will relocate its suburban offices from Plymouth Meeting to Apex in July 2017;
- Office Practicum’s 18,000-square-foot lease; the company, a leading provider of electronic health record (EHR) and practice management software solutions for use in pediatric clinical settings, will relocate its headquarters from Horsham to Apex in March 2017;
- Compassus’ 7,400-square-foot lease; the Nashville-based company is a nationwide network of community-based, post-acute care services that operates more than 165 hospice, palliative and home health programs in 30 states across the U.S.
Over its ownership period, Kairos has also increased the property’s occupancy with three new anchor tenants, including Lincoln Investments (53,000 square feet), Allstate Insurance (25,000 square feet) and Impax Labs (47,000 square feet).
Big corporate names are drawn to Apex because of its attractive campus setting and the newly constructed Hub, a glass box at the center of the campus that connects the three buildings. Brand new amenity spaces include the Apex Café, the Apex fitness center and a 7,000-square-foot conference and training center. Outdoor grounds feature seating for functions, casual gatherings with fire pits and a lawn for outdoor events. Apex also provides abundant electrical power fed from two separate PECO substations, 9-foot finished ceiling heights, efficient floor plates, as well as on-site surface and structured parking at a ratio of 5.3 spaces per 1,000 square feet of rentable area.
The campus sits on 40 acres, just 16 miles northwest of Philadelphia’s CBD, offering easy access to the area’s two major roadways. Located just 1 mile from the interchange of PA Route 309 and the Pennsylvania Turnpike, the property also provides direct access to the Virginia Drive slip ramp of the Pennsylvania Turnpike.
Newmark Grubb Knight Frank’s Jeff Mack, Adam Shute, Patrick Nowlan and Taylor King represented Kairos in the new lease transactions.
Image courtesy of Kairos Real Estate Partners