Suburban Flex Buildings Change Hands

By Marita Thomas of GlobeSt.com

Tuesday, November 29, 2005 - NORRISTOWN, PA-P Mascaro and Sons, a waste hauling and waste management company, will relocate its headquarters from Harleysville to the former GE building at 2650 Audubon Road, just off Trooper Road here. General Electric Co. sold the 95,000-sf former data center.

The price was undisclosed. However, on condition of anonymity, a broker familiar with the Norristown market tells GlobeSt.com that properties of this type and size are trading for between $50 per sf and $60 per sf, which might put the price tag at between a little under $4.8 million and $5.7 million.

Jeff Barker and Kim Finnerty of the local office of Cushman & Wakefield represented GE. David McFadden, Adam Shute and Jim Eaton of the Wayne office of locally based NAI/Geis Realty Group represented the buyer. Eaton tells GlobeSt.com the building was constructed for a division of GE in the early 1990s and was vacant at the time of the sale.