$185MM Mixed-Use Loan Sale | Washington, DC
US - Washington, DC
£149,831,000 | 488,801 sf
Jones Lang LaSalle Americas, Inc. (“JLL”), has been retained on an exclusive basis to arrange the sale of Plymouth Meeting Executive Campus (the “Campus”, the “Portfolio” or the “Offering”), a premier 521,288 square foot campus located in the heart of Philadelphia’s resilient Plymouth Meeting submarket. Situated on nearly 35 acres, the five-building Campus enjoys the most visible and convenient location in the marketplace.
At its current occupancy level, the Portfolio has never afforded qualified investors a more timely opportunity to acquire one of Philadelphia’s most identifiable live-work-play office campuses. Few office parks in the region can boast a more highly amenitized tenant experience coupled with limited deferred capital needs.
Plymouth Meeting Executive Campus offers strong cash flow and a quality tenant mix. Over 50% of office tenants in the Portfolio are in the medical and life sciences industry. The Portfolio capitalizes on Greater Philadelphia’s deep labor pool that encompasses the second largest university population in the United States with over 100 degree-granting institutions.
Ideally situated in the heart of Plymouth Meeting, PA, no institutionally maintained Campus is better located in the submarket. The Offering is within minutes of on-ramps to I-476, I-276, and Route 202, providing exceptional regional connectivity. Nearby amenities such as the Plymouth Meeting Mall and Metroplex Shopping Center, home to many national retailers and dining options such as Whole Foods, Target, LegoLand, Shake Shack, Redstone and Orvis, further solidify the Campus as the prime office option in the region.
The Portfolio is nestled in the affluent Plymouth Meeting/Blue Bell submarket, which boasts an average household income of approximately $125,000. With some of the best-performing schools in Greater Philadelphia and easy regional access, this submarket will continue to stand out as one of Philadelphia’s most desirable areas to live, work and play.