Opal Holdings has acquired a Fort Washington office complex that houses Toll Brothers’ Headquarters for $124.5 million amid a surge in suburban office sales, writes Natalie Kostelni for the Philadelphia Business Journal.

The 680,000-square-foot property is located at 1100 Virginia Drive and is now branded as Fort Washington Technology Center.

It was sold by Somerset Properties, which acquired the complex eight years ago for $84 million. At the time, the building totaled 750,000 square feet.

The company invested further $20 million in upgrading the building. It reconfigured the floor plans, installed a fitness center and cafeteria, and removed part of the structure that served as warehouse space.

At the time of the latest sale, the building was 89 percent occupied.

Other deals that have taken place this year include the sale of 211 S. Gulph Road, a 102,204-square-foot King of Prussia office building, for $25.8 million and the substantial investment of $340 million in AmerisourceBergen headquarters in Conshohocken.

“Activity is picking up and when we get past Labor Day you will see a lot of deals come to the market,” said Mike Margolis, a Newmark investment broker.

Read more about the Opal Holdings sale in the Philadelphia Business Journal.

Find out more about the Toll Brothers company in this video.