Two King of Prussia Office Buildings Up for Sale
Two office buildings have gone up for sale in King of Prussia, which has proven to be one of the most active real estate investments markets in the region, writes Natalie Kostelni for Philadelphia Business Journal.
The first on offer is the Triad building at 2200 Renaissance Blvd, which was about 20 percent leased and neglected when it was purchased by Kairos of King of Prussia and Artemis Real Estate Partners for $8.1 million three years ago.
The vintage 180,000-square-foot office property then received renovations of around $3.6 million which reinvigorated it and brought up the percentage of leased space close to capacity. Kairos is now offering it for around $30 million.
The second office property is a 4-story structure at 935 First Ave. which is fully leased to Radial for the next decade. Radial is anticipated to launch a $4 million renovation project upon the completion of the sale of the 104,000-square-foot building. The estimated price for the sale of this property is $26 million.
Read more about the two properties at Philadelphia Business Journal by clicking here.
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