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Globus Medical Acquires Vacant Office Buildings From Provident Bank In Collegeville For $6.2M

Property Image
SOLD
$6,200,000
Douglas "Doug" Rodio
Jerome "Jerry" Kranzel
Bruer Kershner

Pennsylvania

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Office366,726 SF
Sold 06/01/2025
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Property Image
SOLD

Globus Medical Acquires Vacant Office Buildings From Provident Bank In Collegeville For $6.2M

200 Campus Drive & 400 Campus Drive

See Similar Deals
Office366,726 SF
Sold 06/01/2025
Douglas "Doug" Rodio
Jerome "Jerry" Kranzel
Bruer Kershner
the dealplayerscompscontact
Contact now

Summary

PENNSYLVANIA
Asset Type:Office
Price Per Square Foot:$16
Total Square Footage:366,726 SF
Transaction Type:Sale

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

Bruer Kershner
CBRE
Bruer Kershner
8 deals$492.7M volume(610) 420-2829
BROKER
Jerome "Jerry" Kranzel
CBRE
Jerome Kranzel
7 deals$440.6M volume
BROKER
Douglas "Doug" Rodio
CBRE
Douglas Rodio
8 deals$406.8M volume
BROKER

Details

SOLD
IMAGE: 06/01/2025 ADDRESS: 200 & 400 Campus Drive MARKET: Collegeville, PA ASSET TYPE: Office BUYER: Globus Medical SELLER: Provident Bank BROKERS: Douglas (Doug) Rodio & Jerome (Jerry) Kranzel - CBRE SALE PRICE: $6,200,000 SF: 183,363 ~ PPSF: $34 NOTE: Two vacant office buildings at 200 and 400 Campus Drive in Collegeville sold for $6.2 million, down 81% from their 2018 value amid 15% occupancy, with Globus Medical planning to occupy the space. The sale reflects a broader trend of steep discounts in suburban office markets, driven by low occupancy and shifting tenant needs.

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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