A King of Prussia, Pa., office building has traded for $63
million.
KBS Realty Advisors bought 1000 Continental Drive, a
205,424-square-foot building from Equus Capital Partners Ltd. of Philadelphia.
The building was 99 percent occupied at the time of the sale.
Jim Vesey, Doug Rodio, Jim Galbally and John Plower of Jones
Lang LaSalle represented the seller in the transaction.
The LEED silver building was constructed on speculation in
2008 by Equus development affiliate, BPG Development Co. Tenants include
Hartford Insurance, Nationwide, FT Services, Sedgwick Services, Farmers
Insurance, UNUM and Guinan Financial Group.
Source: Philadelphia
Business Journal
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