Southpoint V

Jones Lang LaSalle Americas, Inc. (“JLL”) has been retained on an exclusive basis to arrange the sale of Southpoint V (the “Property”). The Property is a single-tenant, 43,480-square-foot, mission-critical HQ located in the heart of Suburban Philadelphia’s 202 office corridor, with 9.6 years of remaining term.

Ametek, an investment-grade tenant with a BBB+ credit rating from S&P Global, occupies the entire Property as its corporate headquarters. The company is a global leader in the manufacturing of electronic instruments and electromechanical devices, with a presence in 30 countries. Ametek recently renewed its lease in November 2023 for an additional 10.8 years, extending through August 2034, demonstrating its long-term commitment to the Property.

Constructed in 1998, this two-story Property presents an attractive opportunity for investors. The owners have recently demonstrated significant commitment to the asset by investing in substantial capital improvements. These enhancements include landscaping, paving, painting, restroom upgrades, exterior lighting, and electrical updates—all of which have improved the Property’s overall quality and functionality. Furthermore, $1,953,415 was allocated for tenant improvements to tailor the space to Ametek’s specific needs. This substantial investment underscores the tenant’s confidence in the location and commitment to long-term occupancy.

Located in the King of Prussia submarket, near the intersection of Routes 202 and 252, Southpoint V affords commuters unrivaled access to several of Greater Philadelphia’s primary roadways, including Routes 202, 422, 30, Interstate 76, and the Pennsylvania Turnpike. The Property is minutes away from Gateway Shopping Center and Swedesford Plaza and provides easy access to the abundance of amenities found at the King of Prussia Mall and Town Center—two of Philadelphia’s most sought after live-work-play environments.

The King of Prussia submarket has recently experienced an influx of capital, with robust development and re-development, bolstering the appeal of the location surrounding the Property. Notable projects include CHOP’s King of Prussia campus, which will be anchored by a new, 250,000-square-foot inpatient hospital, 2,000+ new residential units, and The Discovery Labs, a $1.1 billion biotech co-working development. Additionally, Southpoint V is located in tax-friendly Tredyffrin Township, which does not impose a business privilege tax or wage tax on business residents.