10/01/07

Lower Providence Spec Site Started

O'Neill Properties Group broke ground on a speculative building in the Valley Forge Corporate Center, banking that a tenant will want a new building at that location.

The 65,558-square-foot building at 800 Adams Ave. in Lower Providence, Pa., will be completed next spring, according to the King of Prussia, Pa., developer. The structure also marks the first new office construction in the office park in at least five years.

In other recent deals:

• A 3.8-acre parcel at Route 130 and Clement Avenue in Pennsauken, N.J., was sold to Wawa Inc., for an undisclosed sum. The property, where Superior Varnish and Drier once made its home, will become a Super Wawa. CM Properties, which was represented by Colliers Lanard & Axilbund, sold the property.
• Dion Rosenau & Smith, a law firm, leased 4,623 square feet at 8 Penn Center in Center City, Jackson Cross Partners arranged the lease.
• Campbell Soup Co. leased 22,468 square feet at Three Executive Campus, Cherry Hill, N.J. Grubb & Ellis handled the deal.
• FSC Enterprises, a company affiliated with Omni Technologies, sold a 30,000-square-foot building it owned at 900 Forty Foot Road, Kulpsville, Pa., for $2.15 million to Forty Foot Road Properties. Omni continues to lease a portion of the space. Aptcor Commercial represented the seller while NAI Geis represented the buyer.