PHILADELPHIA, PA –Stan Johnson Company, one of the nation’s premier net lease brokerage firms, has completed the sale of a 88,000-square-foot office property in Fort Washington, PA to American Realty Capital for more than $13 million. The property is 100 percent leased to Kulicke & Soffa Industries, Inc.
Josh Pardue of Stan Johnson Company’s New York office represented the seller, Alliance Partners HSP, as well as the buyer.
“We worked closely with Alliance Partners HSP during its acquisition of the asset to review the lease and provide guidance on how to re-structure the lease from a short term, modified gross lease to a long term NNN lease in order to maximize the asset’s value," said Pardue. "During the client’s hold period we successfully amended the lease, while taking the asset to market in a competitive bid scenario. This process added significant value for the seller, allowed the tenant to meet operational objectives, while also creating long term net lease product for a leading net lease REIT, American Realty Trust.”
The Subject Property is located in an institutional Philadelphia office sub-market and immediately adjacent to Interstate 276. The site offers excellent freeway visibility and superb access to regional highways.
About Stan Johnson Company:
Stan Johnson Company is one of the nation’s leading commercial real estate brokerage and advisory firms. Our net lease group is the largest team of professionals focused exclusively on the acquisition, disposition, and financing of net leased real estate. Building on our 25 year foundation in the single tenant net lease industry, completing more than $14.8 Billion in transactions nationwide, Stan Johnson Company is aligned for continued growth. A dynamic team approach, refined marketing processes and a foundation built on integrity, professionalism and relationships create a winning combination enabling the firm to consistently deliver quality service and superior results to each unique client.