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  • Adam Gillespie and James Pasquarella, Avison Young

Avison Young announces sale of 58,594 s/f flex building

Malvern, PA — Adam Gillespie, principal and James Pasquarella, senior vice president of the Avison Young - Philadelphia Investment Real Estate Brokerage division, is pleased to announce the sale of 17 Lee Blvd. in Malvern, PA. The flex building, which totals 58,594 s/f, was fully leased by two tenants at the time of the sale. The purchaser of the property is a private buyer who is making their first industrial acquisition in the Greater Philadelphia area.“This was a beneficial transaction for the buyer and the seller,” said Gillespie. “The seller was able to earn value on recently executed leases within the building and the buyer was able to lock in debt just before a spike in interest rates. The buyer will also benefit from the continuous rising rental rates in the Malvern market.”

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