August 26, 2025 9:00 AM
Newmark[1]
announces the Company has arranged the sale of 1170-1190 Devon Park Drive, a three-building, single-tenant net-leased office campus in King of Prussia, Pennsylvania. The asset traded from M&H Properties to Mesirow Sale-Leaseback Capital, the net lease real estate investment arm of Mesirow, structured in collaboration with the firm’s Credit Tenant Lease (“CLT”) group.
Newmark Executive Managing Directors Jeff Mack and Stephen Comly, Senior Managing Director David Dolan
and Associate Angelo Brutico, in collaboration with Co-Heads of U.S. Capital Markets Adam Spies and Doug Harmon and Executive Vice Chairmen Josh King and Marcella Fasulo, advised M&H Properties in the sale transaction.
Newmark Research reports that institutional office acquisitions rose nearly 50% year-over-year in early 2025, with investors favoring well-leased, income-secure assets. Transactions involving credit-tenanted campuses like 1170–1190 Devon Park Drive reflect that demand, offering stability and long-term value in a selective capital markets environment.
Totaling 250,185 square feet, the campus comprises three interconnected buildings—1170, 1180 and 1190 Devon Park Drive—in the core of King of Prussia. The property is uniquely positioned adjacent to the King of Prussia Mall, the nation’s third-largest shopping destination, and the King of Prussia Town Center, home to the East Coast’s most concentrated mix of retail amenities. Offering direct access to the Pennsylvania Turnpike, Interstate 76 and U.S. Routes 422 and 202, the campus is situated at one of the region’s most prominent commercial crossroads.
About Mesirow Sale-Leaseback Capital (CLT)
Mesirow’s Sale-Leaseback Capital group is a fully integrated net lease investment and asset management group with a 30-year track record of investing for its own account as well as for institutional investors. Our professionals have more than 100 years of combined experience in all aspects of sale-leaseback financing and specialize in working with corporate management teams in unlocking the hidden value of their real estate holdings. For more information, please visit mesirow.com/saleleasebackcapital.
About Mesirow
Mesirow is an independent, employee-owned firm founded in 1937. As specialists in investment, risk management and advisory services, we are committed to helping our institutional, corporate and individual clients achieve their objectives. Our professionals are inspired by an entrepreneurial desire to develop tailored solutions designed to deliver measurable results. To learn more, please visit mesirow.com.
[1]
Dba Newmark Real Estate in Pennsylvania
About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the twelve months ended June 30, 2025, Newmark generated revenues of over $2.9 billion. As of June 30, 2025, Newmark and its business partners together operated from 165 offices with over 8,400 professionals across four continents. To learn more, visit nmrk.com or follow @newmark.
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. These include statements about the Company’s business, results, financial position, liquidity, and outlook, which may constitute forward-looking statements and are subject to the risk that the actual impact may differ, possibly materially, from what is currently expected. 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 Securities and Exchange Commission filings, including, but not limited to, the risk factors and Special Note on Forward-Looking Information set forth in these filings and any updates to such risk factors and Special Note on Forward-Looking Information contained in subsequent reports on Form 10-K, Form 10-Q or Form 8-K.