Cushman & Wakefield has arranged the $32 million sale of Highview I & II (200 and 400 Campus Drive) in Collegeville. Maguire Hayden Real Estate Company acquired the 183,363-square-foot, Class A office portfolio from TA Realty.
Joseph B. Hill, Jr., executive director with Cushman & Wakefield, led the Pennsylvania Capital Markets team of Robert Yoshimura, Eric Mattson and Joseph R. Hill, which represented the seller, according to a submitted release.
“The portfolio represented an excellent opportunity to acquire Class A, institutional-quality suburban office product offering stable, current yield and prominent credit tenancy in a superb, accessible location,” said Hill.
The two buildings, which are currently 93 percent leased, are home to anchor tenants IQVIA, Fidelity Information Services and FirstService Residential. Highview I, located at 400 Campus Drive, totals 78,564 square feet and is comprised of three floors. Highview II, located at 200 Campus Drive, totals 104,799 square feet and is comprised of four floors.
The properties are well situated within Montgomery County and offer close proximity to U.S. Route 422, PA Route 29 and other regional roadways. Nearby arterial connections include I-76, The Pennsylvania Turnpike and U.S. Route 202, providing convenient accessibility to population centers within the Philadelphia MSA, including the Philadelphia CBD.
In addition, tenants benefit from the variety of premier amenities located nearby. These amenities include Providence Town Center, King of Prussia Mall, Philadelphia Premium Outlets, as well as numerous hotels, restaurants, parks and entertainment facilities, such as the Valley Forge Casino Resort.