January 5, 2015 [Philadelphia, PA] – The Colliers International team of Michael Golarz, Barry Greenberg & Matthew Shanahan has been selected to represent new ownership at two high-end office/flex properties in the Suburban Philadelphia Industrial submarket in Bucks County, PA. The new owner, Premier Properties - out of Lakewood, New Jersey - plans to invest substantially in the newly acquired assets at One Ivybrook Boulevard, Ivyland, PA and 650 Louis Drive, Warminster, PA.
Premier Properties has already begun extensive upgrades on major mechanical and exteriors systems as well as cosmetic improvements. These include new energy efficient LED lighting (interior and exterior), re-paved and re-striped parking and loading areas, upgraded finishes and landscaping throughout, newly installed HVAC systems, roof repairs, and power washing and painting of building exteriors.
The properties are in a desirable location, within close proximity to Street Rd (Route 132) and Exit 343 of the PA Turnpike and easily accessible to SEPTA bus routes and regional rail lines. They are ideally suited for traditional office/lab/flex users.
- 650 Louis Drive, (pictured on the left) is in Warminster, PA. It is a versatile 44,400-square-foot office/lab/flex building with divisible units from 4,000 to 31,000 SF.
- One Ivybrook Boulevard (pictured on the right) is located in the Ivybrook Corporate Center in Ivyland, PA. A 113,000-square-foot office/flex facility, it sits on 11+ acres and offers tailgate and grade level loading. Current tenants include Alliance Healthcare. It is 95.7% leased; two vacancies remain – 4,880 SF and 2,739 SF.
About Premier Properties
Premier Properties is a New Jersey based company specializing in the acquisition of value-add assets and the successful turnaround, stabilization and lease up of commercial and residential properties along the east coast. Premier Properties makes tenant’s satisfaction a top priority while improving and enhancing the overall value and functionality of the property.