April 18, 2005

Written by Cassandra Wright

Paoli West Professional Park Sells for $3M

WP Realty Adds 20,000 SF in Office Buildings to Portfolio

Greystone-Paoli LP sold Paoli West Professional Park at 15-17 Industrial Blvd. in Paoli, PA, as an investment property to WP Paoli Associates LP, an affiliate of Bryn Mawr, PA-based WP Realty for $3.225 million.

The buildings at 15-17 Industrial Blvd. are connected to the adjacent Paoli office park and includes two, 10,000-square-foot, two-story buildings and is one of many investment properties of WP Realty. Its portfolio includes more than 5.5 million square feet of retail, 150,000 square feet of office and 600 multifamily unit apartments.

Arthur Weisman and Adam Shute from NAI Geis Realty Group Inc. represented the seller, Greystone-Paoli. Stuart Dessner of Prime Realty Group represented the buyer.