The Eight Tower Bridge office building in Conshohocken has been put up for sale with a projected price of around $300 per square foot, writes Natalie Kostelni for the Philadelphia Business Journal.
Located in one of the area’s most sought after office submarkets, the 16-story, 345,000-square-foot building at 161 Washington Street is the largest of the Tower Bridge buildings that overlook the bridge connecting Conshohocken with West Conshohocken. Some of the 95-percent-occupied building’s larger tenants include Trion Group, Allied Barton, Penn Mutual Insurance, and AMG Funds.
The building was constructed in 2002 by Oliver Tyrone Pulver Corporation, which is currently working on plans to construct Seven Tower Bridge, a nearby 260,000-square-foot, 14-story office tower.
Mike Margolis, an investment broker with Newmark Grubb Knight Frank, which is marketing the sale of the property, noted that it is likely to attract institutional and private investors. The last large office property that sold in Conshohocken was in January, when 300 Four Falls sold for $98.4 million or nearly $340 a square foot.
Read more about the property in the Philadelphia Business Journal by clicking here.