SSH Real Estate

Sentry Park East

Service Provided

Investment Brokerage, Leasing Brokerage, Property Management


Blue Bell, PA


Two mid-rise office buildings totaling 47,137 square feet


Toll Brothers had owned these two office buildings in Blue Bell since the 1990s. Over the years, Toll Brothers refined their ownership strategy such that owning office buildings in the Philadelphia Suburbs was no longer central to their core business. In 2013, they decided to sell the properties.

Complicating Factors:

  • The two buildings were part of a five-building condominium. Each of the other three buildings was under separate ownership.
  • The buildings were only 55% leased to a group of tenants with short term leases and mostly local credit.
  • The Blue Bell office market was suffering from 5 years of recession and was hovering at a 22% vacancy rate.
  • Non-distressed suburban office was an unpopular property type among investors at this time.

Value Added

SSH Real Estate competed against five brokerage teams from other real estate companies with national platforms to win the assignment from Toll Brothers. The Investment Brokerage team determined that the high vacancy at the property would require an in-depth understanding of the leasing market to get investors comfortable with how the property could compete for tenants. The team brought the Suburban Office Leasing team in to help win the assignment and to cooperate in marketing efforts. Also, the Investment team determined that property’s operating expenses seemed high compared to other properties in the market. The team brought the Property Management in to value engineer the budget and they discovered several items where they felt they could produce savings.


SSH Real Estate’s team-oriented approach resulted in three solid offers from three credible investors, all within Toll Brothers’ strike price range. During due diligence, the leasing team was able to demonstrate to the winning bidder how the property could compete effectively for tenants within its market niche. The property management team showed where operational savings could be achieved. The property sold on schedule at an attractive price to the client. The buyer was so impressed with SSH’s knowledge of the building and the market, they hired SSH for leasing and management services to help them execute their value creation strategy.

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