Globus Medical Acquires Vacant Office Buildings From Provident Bank In Collegeville For $6.2M
200 Campus Drive & 400 Campus Drive
$6,200,000
$16/SF
Building Size
366,726 SF
Asset Type
Office
Closing
Jun 1, 2025
AI
Two vacant office buildings located at 200 and 400 Campus Drive in Collegeville, PA sold for $6.2 million. The total square footage of the properties is 183,363, resulting in a price per square foot of $34. The transaction reflects a significant decrease of 81% from their 2018 value amid low occupancy levels of 15%, with Globus Medical planning to occupy the space.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $6,200,000
- Address: 200 & 400 Campus Drive
- Market: Collegeville, PA
- Square Footage: 183,363
- Price Per Square Foot: $34
- Buyer: Globus Medical
- Seller: Provident Bank
- Brokers: Douglas (Doug) Rodio & Jerome (Jerry) Kranzel - CBRE
The deal involved Globus Medical as the buyer and Provident Bank as the seller, facilitated by brokers Douglas (Doug) Rodio and Jerome (Jerry) Kranzel of CBRE. The sale is indicative of current trends in suburban office markets, particularly driven by low occupancy rates and evolving tenant needs.
Players
Collegeville Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.56%
Cash-on-Cash
-0.73%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93