TDK Commercial Advisors completes over $3.4 million in regional transactions
Philadelphia, PA — Thomas Kramer, president of TDK Commercial Advisors (TDKCA) has completed a number of transactions totaling over $3.4 million on behalf of a national client base as well as several new key listings. At 718 Arch St., The Cast Iron Building, TDKCA represented the owner of the building AMC Delancey Group in leasing over 4,000 s/f to two new tenants. In the first transaction WFGD leased nearly 2,000 s/f for their new headquarters. WFGD is a regional marketing and branding company and will occupy the space as of September 2016. In the second transaction TDKCA represented the landlord in leasing 2,000 s/f to Frontier BPM, a software company, moving in to the city from Blue Bell, PA. Jim Savard of James E. Savard Real Estate Consulting represented the tenant in the long term transaction. At the Gateway Business Center, Island and Batram Avenues, TDKCA represented Core Realty in two new leases. XTL, Inc. a regional logistic company leased 1,500 s/f for a long term lease at 3751 Island Ave. Thomas Kramer remarked that “these two transactions take the property to near 89% leased, and we expect to be 100% occupied by Q1 2017”. The tenant was represented by Colliers International. In the second transaction, CMC Engineering (“CMC”) leased 1,000 s/f and will occupy the space August 1. TDKCA was the sole broker in the CMC transaction. The landlord of 198 Allendale Rd. was represented by TDKCA in the completion of a lease with Cunningham Piano Company for nearly 6,000 s/f. The retail location will be used to sell various types of pianos. The long term lease is valued at over $2 million. Thomas Kramer said, “This transaction kicks off the revitalization of this well located asset, in the heart of King of Prussia. Building renovations are well into the planning stage, and we are excited to welcome Cunningham Piano as our anchor retail tenant. Berkshire Hathaway Home Services represented the tenant. TDKCA also represented two long term clients with the acquisition of new office space. Console Law Offices was represented by TDKCA in cooperation with Sky Line Real Estate in a long term lease for 3,000 s/f. Console will be relocating to 210 Marter Avenue in Moorestown, NJ. Financial terms of the lease were not released. In coordination with JLL, TDKCA also represented Mintzer Sarowtiz Zeris Ledva & Meyers in the acquisition of over 3,500 s/f in Towson, MD. The firm will be relocating to 810 Gleneagles Court, Towson, MD. Financial terms of the transactions were not released. TDKCA is also pleased to announce that they have been named the marketing and leasing agent for a number of properties. The firm is leasing and marketing 1 Winding Drive, newly named the Monroe Executive Campus, in Philadelphia PA. The 71,000 s/f property is well located just outside of Bala Cynwyd and minutes to the Schuylkill Expressway, PA Tpke., and 676. Center City Philadelphia is only 10 minutes away. The property is undergoing a major renovation and is steadily leasing space. It is part of the Presidential City apartment complex which is undergoing a multi-million dollar renovation. TDKCA was also named the exclusive marketing agent for 1 Chelsea Parkway in Boothwyn PA. The flex property is owned by SJS Realty and has spaces from 3,000 s/f to 14,000 s/f. TDKCA has been appointed the marketing and leasing agent also for the new Protecs Innovation Centers. These properties consist of two locations. 5100 Campus Dr. in Plymouth Meeting and 3700 Horizon Drive in King of Prussia, PA. Both properties offer spaces from 1,500 s/f and have office, lab, and R&D space. These are unique buildings in that they allow lab and office users to collaborate with each other, or lease standalone spaces. TDKCA was also named the exclusive sales agent for 901 East 8th Avenue (the Cedar Run Corporate Center) in King of Prussia, PA. This 59,000 s/f office property is located in the heart of King of Prussia, and is 78% leased to a variety of tenants. The investment offers tremendous upside potential in a market that continues to gain strength. Thomas Kramer said, “We are thrilled that the firm continues to gain steady market share, validating our unique leasing and marketing program that has allowed all of our properties to steadily increase occupancy rates”.