Zamir Enters Pennsylvania with $30M Acquisition
- Mar 21, 2017
Philadelphia—Zamir Equities acquired Triad in King of Prussia, Pa., for $30.2 million from Kairos Real Estate Partners. The property, located at 2200 Renaissance Blvd., is situated within Renaissance Corporate Park.
Built in 1985, the four-story, 186,156-square-foot asset was completely renovated in 2014, according to Yardi Matrix. The $4 million renovations included upgrades to the lobby, common area, fitness center and cafe, as well as the addition of a new cooling tower and chiller.
The property also offers underground parking, outdoor balconies, a conference center and access to a local jogging trail. The Class A office building is anchored by tenants such as Liberty Mutual, RatnerPrestia and Telerx Marketing, a subsidiary of Merck & Co.
“King of Prussia is becoming one of the most exciting reimagined cities in the U.S., especially for millennials, with extraordinary new growth and commercial opportunities,” said Asher Zamir, founder & chairman of Zamir Equities, in prepared remarks. “This is our first commercial real estate investment in Pennsylvania and acquiring Triad solidifies our vision and commitment to King of Prussia and the Philadelphia submarket.”
Image courtesy of Yardi Matrix