Newmark Capital Markets has announced the successful completion of the sale of County Line Commerce Center (101-163 East County Line Road) in Warminster, Pennsylvania. The Newmark Capital Markets team of Mike Margolis, Dave Dolan and Dave Garonzik, along with local market experts Neil Shupak and Justin Bell represented the seller Crossroad Partners in the $11.2 million trade of the property. The buyer is a joint venture including Corvest Realty Group and Balashine Properties, both from Blue Bell, Pennsylvania. In addition to representing the seller, Neil Shupak and Justin Bell were retained to handle the leasing of County Line Commerce Center.
The 427,421-square-foot property consists of five buildings, four of which are interconnected, varying in heights of one, two and three stories. The two tenants currently occupying County Line Commerce Center, ABB and Advanced Coatings, provide the property with 7.44 years of weighted average lease term.
County Line Commerce Center is the only office building in the Greater Philadelphia suburban market that offers tenants up to 275,000 square feet of vacant office space. The new, local owners are preparing plans now to install fresh signage, landscaping, tenant entrances, common areas and a full suite of amenities including a fitness center, on-site food service and conference facilities. Tenants will receive custom designed office environments tailored for their company culture, priced affordably at $18.00 per square foot.
County Line Commerce Center is a highly visible office location that is just four miles from the Willow Grove Interchange (Route 611) of the Pennsylvania Turnpike (I-276) and has excellent local access via Routes 611, 332, 263 and 132. The Hatboro and Warminster SEPTA train stations are approximately one mile from the property, giving exceptional access across the region. For added convenience, the property also offers a shuttle service to and from the Warminster Regional rail line.
About Newmark Capital Markets
Newmark Capital Markets, operated by Newmark Group, Inc., is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, our 15,000 professionals operate from more than 400 offices in established and emerging property markets on six continents.
We provide access to a wide range of services, including asset sales, sale leasebacks, mortgage and entity-level financing, equity raising, underwriting and due diligence. The transactions we broker involve vacant land, new real estate developments and existing buildings. We specialize in arranging financing for most types of value-added commercial real estate, including land, condominium conversions, subdivisions, office, retail, industrial, multifamily, student housing, hotels, data center, healthcare, self-storage and special use. For further information, visit www.ngkf.com/capitalmarkets.
Newmark Group, Inc., which is listed on the NASDAQ Global Select Market under the symbol “NMRK”, is a publicly traded subsidiary of BGC Partners, Inc. (“BGC”), a leading global brokerage company servicing the financial and real estate markets. BGC’s common stock trades on the NASDAQ Global Select Market under the ticker symbol “BGCP”. BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol “BGCA”.
Discussion of Forward-Looking Statements about Newmark
Statements in this document regarding Newmark that are not historical facts are “forward-looking statements” that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. Except as required by law, Newmark undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Newmark’s and BGC’s Securities and Exchange Commission filings, including, but not limited to, any updates to such risk factors contained in subsequent Forms 10-K, 10-Q, or Forms 8-K.