Gambone Development Co. has decided to reevaluate its
Linfield Corporate Center and is offering to sell the remaining undeveloped
land or even individual land sites.
The Montgomery County builder bought what was originally 130
acres off the Limerick-Linfield interchange of Route 422 in 2006 for $9.7
million. Over the years, Gambone constructed several buildings on the site, the
latest of which was a 15,000-square-foot facility for Rothman Institute. Other
tenants include 3M, AAE Corp. and Iron Mountain.
The economic downturn slowed progress at the corporate
center and now Gambone is exploring several options with the remaining 97
undeveloped acres, said Larry Bergen, a broker with Colliers International that
is handling the marketing along with colleagues Barry Greenberg and Mike
Golarz.
“This is a unique opportunity,” Bergen said.
The property’s zoning allows industrial and commercial uses.
Bergen and his team have been hired to market the sites and there are lots of
options. They will seek out companies that want to have a new building
constructed that could be any where from 20,000 square feet to 200,000 square
feet.
If a company wants Gambone or another firm to construct it
for them, that can be arranged. If a developer wants to buy the entire 97
acres, then it is listed for $10.5 million or an investor can buy as many
parcels as needed. The starting price is $175,000 an acre.
Source: Philadelphia
Business Journal
No comments:
Post a Comment