Conshohocken office complex hits the market
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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