Liberty Property Trust Sells King of Prussia Office Asset
- Nov 14, 2016
By IvyLee Rosario
King of Prussia, Pa.—NGKF Capital Markets recently represented Liberty Property Trust in its sale of 151 S. Warner Road in King of Prussia, Pa. Mike Margolis and Dave Dolan of the NGKF Philadelphia team represented the seller in the transaction, along with area expert Jeff Mack. Purchased by a German family office for $26.8 million, the property was redeveloped by Liberty and was designed to meet LEED Gold standards.
The location boasts one of the best vehicular access locations in greater Philadelphia, with entrances to I-76, I-276 and Routes 202 and 422. The building is served by the Connect KOP commuter shuttle, which provides transportation to various nearby business parks and the SEPTA Regional Rail Wayne Station.
The property is also down the street from the King of Prussia Mall, the largest retail mall in the U.S., and right across from the Village at Valley Forge, a new 135-acre mixed-use development that will offer 250,000 square feet of retail space, 3,000 residential units, 1.5 million square feet of office space, 500 hotel rooms and a Children’s Hospital of Philadelphia out-patient facility, at full development.
In September 2016, The Judge Group signed a long-term lease to occupy the entirety of the building as its new corporate headquarters. The property offers natural light with its six-foot high windows, interior offices with large open spaces and an amenities package including a lunch serving area, dining and game area and a training room.
Image courtesy of NGKF Capital Markets