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  • Marzullo & Silverman of the Investment

CBRE's Stevens arranges sale of Cassford Corporate Center in Berwyn totaling $9.25 million

BERWYN, PA — CBRE arranged for the sale of Cassford Corporate Center, a five building office campus located on Old Cassatt Rd. in Berwyn. The property, which totals 131,509 s/f, was acquired by Maguire Hayden Real Estate Co. for a sale price north of $9.25 million. The office complex was totally vacant at the time of the sale, but had previously been 100 percent occupied by Vertex, Inc. CBRE executive vice president Peter Stevens represented the seller, a Delaware LLC, during negotiations. “The properties garnered a significant amount of interest from both local buyers and out of town investors,” said Stevens. “The sale was a note sale which complicated the transaction since Maguire Hayden had to complete the foreclosure with the borrower in order to gain the title to the property after the note sale. The value-add component of a vacant office campus, in an exceptional location, offered an attractive opportunity to create value.”

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