Crown
Holdings Inc. has sold its 238,000-square-foot Northeast Philadelphia
headquarters building for $9 million to Lawrenceville, N.J.-based Simone
Realty, with plans to remain on the property on a short-term lease while it
looks for a new location outside the city.
Simone
Realty Inc. president John Simone said in an interview Thursday that the
company formerly known as Crown Cork & Seal has an 18-month lease with
renewal options for its space at the One Crown Way building on 40 acres of
land near Roosevelt Boulevard and Woodhaven Road.
The
publicly listed packaging company is seeking a new headquarters location in the
Pennsylvania suburbs or outside the state, real estate services firm CBRE
Group, whose brokers negotiated the deal, said in a release on Thursday.
A
message left with Crown Cork spokesman Thomas T. Fischer was not immediately
returned.
Simone
said that redevelopment options were being considered for the building and its
surrounding property.
The
property’s sale closed on April 18, according to records filed with the city.
Source: Philly.com
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