Conshohocken office complex hits the market

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A three-building office complex in Conshohocken called Millennium has been put up for sale. The properties are at 20 Ash St., 225 Washington St., and 227 Washington St., and the asking price is $55 million. (Photo courtesy of Google Maps.)

Stabilis Capital Management, a New York Investment firm, has put up for sale a three-building office complex in Conshohocken called Millennium.

The properties include Millennium I at 20 Ash St., Millennium II at 225 Washington St. and Millennium III at 227 Washington St., writes Natalie Kostelni at bizjournals..com.

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The properties are estimated to sell for around $55 million, according to a source familiar with the complex.

Though the properties are 96 percent occupied at this time, they will take a big hit in December 2020. That’s when a lease with AmerisourceBergen, which occupies more than half — 105,000 square feet — of the space will expire. At that time, the pharmaceutical distributor plans to relocate to a new office building in Conshohocken called Sora West.

The investment market in Conshohocken has been active in recent years.

To read the full story, click here.

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