New office building planned along Swedesford Road in Tredyffrin

What CrossPoint2 could look like.

After the quick lease up of CrossPoint at Valley Forge, a real estate partnership is looking to do a repeat of that success and is testing the waters for CrossPoint2.

The Davis Cos. of Boston and Hayden Maguire Real Estate Fund of West Conshohocken, Pa., have drawn up preliminary plans for a five-story, 240,000-square-foot office building on a 10-acre parcel at the corner of Swedesford Road and Old Eagle School Road in Wayne, Pa. The property is a stones throw from the first CrossPoint building the duo own. That property totals 272,000 square feet at 530 and 580 Swedesford Road and was totally gutted and quickly leased up.

The plans for CrossPoint2 seek to incorporate many of the same amenities and then some that made the first CrossPoint so attractive to tenants. For example, marketing materials for CrossPoint2 show it to have a full-service cafe, roof deck with seating, a conference and fitness center as well as indoor and outdoor seating areas. Each floor will be nearly 55,000 square feet and designed to maximize natural light.

“Obviously it’s a great location as affirmed by the success of our first project,” said Jonathan Davis of the Davis Cos. “Tenants are looking for amenities that you can’t get unless you build new. We had such market response to the CrossPoint project and know that there is a market for very high quality state of the art product in suburban Philadelphia.”

Davis said the land is under contract to be bought from Arcadia Land Development. The property is one of the last development sites along Swedesford Road in Tredyffrin.

In 2012, Davis and Hayden initiated a $30 million reconstruction of what was branded CrossPoint. It quickly attracted a bevy of tenants, some of whom located their headquarters in the building.

D2 Solutions is the architect of both CrossPoint and CrossPoint2. Newmark Grubb Knight Frank, which was involved in the first building, is the brokerage marketing the second one for lease.

Source: Philadelphia Business Journal