CBRE Secures 90,000 SF of Office Space at 440 & 460 East Swedesford Road

29 Jan 2020

460_ESwedesford

CBRE today announced that it has arranged seven office leases totaling 90,137 sq. ft. on behalf of Equus Capital Partners at 440 and 460 East Swedesford Road in Wayne, Pennsylvania. 

The CBRE team of Scott Gabrielsen, Stephen Gersbach and Tara Hayden Buchakjian are the exclusive leasing agents at both office properties and represented Equus during the negotiations. 

Four of the seven leases were new office deals, while three were lease renewals. Western & Southern Life Insurance Company (4,545, sq. ft.), Kelley Jasons McGowan Spinelli Hanna & Reber, LLP (4,172 sq. ft.), FRS Capital Management (3,947 sq. ft.) and Transparent Health Marketplace (6,867 sq. ft.) all signed new office deals at 460 East Swedesford Road. The Provident Bank (3,350 sq. ft.) and Tekni-Plex (17,219 sq. ft.) signed lease renewals at 460 Swedesford Road, while Genex inked a 50,037 sq. ft. renewal at 440 East Swedesford Road. 

Equus Capital Partners, who acquired the two, Class A office buildings in early 2018 from Liberty Property Trust, repositioned the assets and invested significant capital on renovations to both interior and exterior features, as well as the enhancement of amenity spaces and building systems. 

“Credit to Equus for taking two outdated buildings in a premier location and turning them into two of the top office properties in the East Swedesford Road corridor,” said Scott Gabrielsen, Executive Vice President, CBRE. “A new grand, three-story glass entrance with exposed stairs and glass railings was constructed at both properties and all new finishes in the lobbies, restrooms and corridors were added, plus a Fooda concept for on-site dining. With these improvements, existing and new tenants saw the value at 440 and 460 East Swedesford Road.” 

The two buildings, totaling 149,450 sq. ft. of office space, are ideally located in Tredyffrin Township with no earned income or business privilege taxes. Additionally, the properties are in close proximity to the King of Prussia Town Center and the King of Prussia Mall and offer immediate access to Routes 202, 252, 422, Interstate 76 and the Pennsylvania Turnpike. 
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.