|Last Updated Date||12 Mar 2020|
Currently 78% leased to a mix of creative and prototypical office tenants, the King of Prussia Business Center features a diversified rent roll and a balanced lease expiration schedule with a weighted average lease term of 4.1 years. Current ownership has maintained institutional-level quality buildings and has executed over 52,000 square feet of new leasing activity in the last 12 months. The Portfolio offers qualified investors the value-add opportunity to acquire an office campus that provides strong in-place cash flow with the potential of additional upside through the lease-up of existing vacancy and the execution of modernization and amenitization programs aimed to position the Portfolio as one of the region’s premier creative office parks.
Jones Lang LaSalle Americas, Inc (“JLL”), has been retained on an exclusive basis to arrange the sale of the King of Prussia Business Center (the “Portfolio” or the “Offering”), a portfolio of fourteen, single and multi-story office buildings totaling 181,153 square feet that are located on 14.32 acres in King of Prussia, Pennsylvania, one of Philadelphia’s premier live-work-play environments.