Techni-Tool commits to long term lease renewal

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The building, home of Techni-Tool, sits on 26+ acres in Worcester Township providing ample land for future building expansion when necessary. (Image courtesy Google Maps)

Sometimes you don’t have to look too far when it comes to leasing space in Montgomery County.

Newmark Knight Frank (NKF) has announced that Managing Director Justin Bell and Senior Managing Director Neil Shupak recently represented T-Squared Realty, LLC, the landlord of 1547 N. Trooper Road in Worcester, with a 120,000-square-foot, long-term lease renewal for a longstanding tenant, Techni-Tool, writes philadelphia.citybizlist.com. 

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T-Squared Realty, LLC, initially hired Bell and Shupak to provide a Broker Opinion of Value and to assist with the sale or lease of the building. Techni-Tool occupied the entire building with a fourth quarter 2019 lease expiration date approaching. NKF provided a strategic plan of action to leverage its local market knowledge, costs involved with leasing new space, relocating an operation of this magnitude, and the timing required to complete a relocation before the renewal notice period. All strategic goals were accomplished, there was no downtime in finding a replacement tenant, and ownership increased the value of its building substantially.

The building sits on 26+ acres providing ample land for future building expansion when necessary. 45,000+square feet is two-story office space and 75,000+square feet of the building is 25-foot clear warehouse space that is fully climate controlled. It includes six tailgate loading docks and 40’x40’ column spacing throughout. Larry Maister of JLL represented the tenant.

To read the complete story click here. 

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