West Chester, PA — The Investment Sales Division at SSH Real Estate has completed four separate sales of flex buildings on behalf of commercial real estate developer Chris Knauer of Knauer Properties. Three of the four properties are located in West Chester at 901 S. Bolmar St., 1075 Andrew Dr., and 1085 Andrew Dr. The fourth property is in the Lionville neighborhood of Exton at 180 Gordon Dr. The combined size of the four properties is 261,550 s/f, and it was 94% occupied by 28 tenants when the marketing process began.
Chester County Portfolio
901 S Bolmar St. – 85,920 s/f
1075 Andrew Dr. – 65,200 s/f
1085 Andrew Dr.– 43,675 s/f
180 Gordon Dr. - 66,755 s/f
Dan Mayock, the managing director of investment services at SSH who oversaw the sale, initially advocated for marketing the four properties as a portfolio.
“While the owner was dealing with the sudden vacancy of a large tenant, the SSH team started looking at alternatives and determined that it would make sense to split the portfolio into pieces. This resulted in four deals, three buyers, three lenders, and a 1031 sale (180 Gordon Dr.). We were fortunate to have a flexible seller with flexible time frames, so they were willing to consider all alternatives,” said Mayock.
Dan Mayock was assisted by Tyler Berlinsky, who recently joined the firm.