Stalwart Equities Acquires Fully Leased Office Building In Philadelphia For $21M

The asset involved in this transaction is a 130,000 square foot office building located at 13000 Townsend Road in Philadelphia, PA. The property was sold for $21,000,000, reflecting a price per square foot of $162 and a cap rate of 10.14%. Acore Capital, the seller, had acquired the property in 1998 for $17,000,000.

Summary of transation details:

• Property Type: Office
• Transaction Amount: $21,000,000
• Square Footage: 130,000
• Address: 13000 Townsend Road
• Market: Philadelphia, PA
• Price per Square Foot: $162
• Cap Rate: 10.14%
• Buyer: Stalwart Equities
• Seller: Acore Capital
• Broker: Colliers

Colliers was the broker representing the transaction. Stalwart Equities is the buyer who acquired the fully leased office space, and Acore Capital represented the seller in this deal.