Jack Lingo Asset Management and Velocity Venture Partners Buy Up Commercial Real Estate in Blue Bell, Huntingdon Valley

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Huntingdon Glen Business Campus
Image via Google Maps.
Part of the Huntingdon Glen Business Campus, recently purchased in a Montco real estate deal.

Real estate deals in Montgomery County are showing no signs of slowing down, with two more major deals added to the ever-growing number of transactions, writes Natalie Kostelni for the Philadelphia Business Journal.

Jack Lingo Asset Management has acquired a 150,000-square-foot building in Blue Bell from AK Jolly for $36.5 million. The building at 980 Jolly Road is 86 percent occupied. This is the second office building in suburban Philadelphia purchased by the Delaware real estate company.

It acquired 211 S. Gulph Road in King of Prussia last year.

Meanwhile, Velocity Venture Partners has bought Huntingdon Glen Business Campus from an affiliate of the Dudlik family for $22.5 million. The five industrial buildings at 1810-1850 County Line Road in Huntingdon Valley total 180,000 square feet. The buildings were constructed between 1984 and 2005 and are currently 98 percent leased to 38 tenants.

In other deals, C&E Craft leased 7,000 square feet of warehouse space in Oaks. The custom candle manufacturer leased the space at the 422 Business Center at 122 Mill Road from Suburban Management.

Read more about the latest real estate deals with Jack Lingo Asset Management and Velocity Venture Partners in the region in the Philadelphia Business Journal.

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