Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to present the sale of 720 Vandenburg Road (the “Property’), a 6.85-acre parcel situated in the desirable suburban Philadelphia destination, King of Prussia. The site currently features an 80,000 SF office building that is 100% occupied on a short-term lease. The offering presents investors with the opportunity to acquire a 6.85-acre parcel and redevelop the Property into a luxury suburban multi-housing community.
- Attractive Zoning
- The 6.85-acre parcel is zoned KPMU (King of Prussia Mixed Use District) in Upper Merion Township. Multi-housing is permitted as a conditional use.
- Leading Multi-Housing Fundamentals
- According to AxioMetrics, the Norristown/Upper Merion/Lower Merion submarket achieved annual rent growth of 8.4% in 2022 and is expected to continue to grow at 3.5% annually through 2026.
- Prime Location in a Desirable Submarket
- King of Prussia is Suburban Philadelphia's one-stop destination for booming business, the hottest restaurants, world-class healthcare, and exciting recreational activities.
- The submarket has been home to more than $4 billion in development projects since 2010, and there are several more that are planned to move forward.