The Investment Sales Division at SSH Real Estate has completed four separate sales of flex buildings on behalf of commercial real estate developer Chris Knauer of Knauer Properties. Three of the four properties are located in West Chester at 901 S. Bolmar Street, 1075 Andrew Drive, and 1085 Andrew Drive. The fourth property is in the Lionville neighborhood of Exton at 180 Gordon Drive. The combined size of the four properties is 261,550 square feet, and it was 94% occupied by 28 tenants when the marketing process began.
Chester County Portfolio
- 901 S Bolmar Street – 85,920 SF
- 1075 Andrew Drive – 65,200 SF
- 1085 Andrew Drive – 43,675 SF
- 180 Gordon Drive - 66,755 SF
Dan Mayock, the Managing Director of Investment Services at SSH who oversaw the sale ,initially advocated for marketing the four properties as a portfolio. However, due to an unexpected departure of a major tenant from one of the properties, the SSH team determined that it would make sense to split the portfolio and sell it piecemeal. “While the owner was dealing with the sudden vacancy of a large tenant, the SSH team started looking at alternatives and determined that it would make sense to split the portfolio into pieces. This resulted in fourdeals, three buyers, three lenders, and a 1031 sale (180 Gordon Drive). We were fortunate to have a flexible seller with flexible time frames, so they were willing to consider all alternatives,” said Mayock. Dan Mayock was assisted by Tyler Berlinsky, who recently joined the firm.
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