With the office market still facing many uncertainties, East Norriton’s D2 Organization has opted to keep all options open for a vacant office building in Collegeville. Paul Schwedelson reported on the opportunity for the Philadelphia Business Journal.

D2 Organization’s division D2 Capital Advisors recently made arrangements for an $8.5 million refinancing of the property, which gives the company flexibility for a potential conversion of the four-story, 81,400-square-foot building.

According to David Frankel, D2 Organization’s chief operating officer, the simplest move would be to keep the building as office space.

Despite marketing the building to tenants and prospective buyers, however, the rise of remote work has resulted in the property sitting vacant for the past two years.

Alternatively, the building could be converted for several other uses, including life sciences, residential, and self storage. One of its market advantages is its location: It is near Route 422, just east of Collegeville’s Providence Town Center, a busy retail center.

“We’re talking to different groups that have interest in it,” said Frankel. “We’re exploring what those options are.”

For now there is currently no timeframe for any possible conversion.

“It comes down to who comes forward to us with solutions that make the most economic sense for us,” said Frankel.

Read more about the D2 Organization plans for this Collegeville building in the Philadelphia Business Journal.

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The commercial real estate site owned by D2 Organization is near Collegeville’s popular Providence Town Center, shown here in a 2020 drone tour.