Spring Mill Corporate Center signs leases, taken off the market

Kalmon Dolgin Affiliates Inc. saw robust leasing activity at its two Philadelphia-area properties, the Pennsylvania Design and Distribution Center and Spring Mill Corporate Center.

The design and distribution center at 4700 Wissahickon Ave. in Philadelphia saw 388,000 square feet in new and renewed leases last year. For example, the City of Philadelphia renewed on 184,128 square feet and Taig Inc., which helps those with disabilities, renewed on 38,916 square feet.

At the Spring Mill Corporate Center at 1100 E. Hector St. in Conshohocken, Pa., the landlord recorded 42,555 square feet in renewals and new leases. Some of the deals included a 12,592-square-foot expansion for Connolly Consulting, a 9,141-square-foot renewal and expansion for Rex Medical, a medical-device manufacturer, and a 3,750-square-foot new lease for Softgate Solutions, a retail payment exchange.

Kalmon Dolgin had put Spring Mill Corporate Center, which is a two-building complex totaling 617,039 square feet, up for sale last year but was later taken off the market. One of the investors in the property is reportedly trying to buy out the other partners involved with it and that transaction is still pending.

Source: Philadelphia Business Journal