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National Asset Services, on behalf of the Tenants In Common owners, has recently awarded the Philadelphia NGKF Capital Markets team the investment sale assignment for 300 Four Falls, located in Conshohocken, Pennsylvania, one of the top and most sought after submarkets in the Philadelphia suburbs.
At 98.4% occupancy, 300 Four Falls offers a diverse rent roll which will provide a buyer with a high level of credit worthy tenants and stable yield for the foreseeable future of the investment. The size and quality of the offering is expected to attract large institutional core investors as well as international investors looking to move beyond their primary markets to achieve higher yields on quality institutional assets.
Measuring 297,320 square feet, the trophy class Conshohocken office building has expansive water views, an on-site fitness center, delicatessen, and a six-story parking structure which provides convenient, covered parking. The property also enjoys excellent visibility from the Schuylkill Expressway (I-76) and easy access from I-76 and the “Blue Route” (I-476), both with full Conshohocken interchanges, as well as direct “back road” access from Main Line executive housing via Spring Mill Road (Route 23) and Route 320.
Conshohocken is a highly developed borough approximately one square mile in size, situated on the banks of the Schuylkill River and located two miles from the city of Philadelphia. This Interstate crossroads location has developed from a former mill town into an urban enclave in the suburbs, with street retail, mass transit and walkable neighborhoods. From an office perspective, the Conshohocken submarket boasts the newest, highest quality buildings in the Philadelphia suburbs to go along with its urban flavor. The Conshohocken market continues to show strong rent growth and tenant interest, making this an attractive offering for institutional investors.
The NGKF Capital Markets team of Mike Margolis, Taylor King, Dave Dolan and Brett Segal will be marketing the property for sale, along with Mike Maloney who is responsible for leasing the asset.
About Newmark Grubb Knight Frank
Newmark Grubb Knight Frank is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, NGKF’s 12,000 professionals operate from more than 330 offices in established and emerging property markets on six continents.
With roots dating back to 1929, NGKF’s strong foundation makes it one of the most trusted names in commercial real estate. NGKF’s full-service platform comprises BGC’s real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; capital markets services,
including investment sales, debt placement, appraisal, and valuation services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services. For further information, visit www.ngkf.com.
NGKF is a part of BGC Partners, Inc., 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 (NASDAQ: 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 (NYSE: BGCA). BGC Partners is led by Chairman and Chief Executive Officer Howard W. Lutnick. For more information, please visit http://www.bgcpartners.com/.