980 Jolly Road - Blue Bell

Class A - Office
Price:
Address:980 Jolly Road
City:Blue Bell
State:PA
Zip:19422
Website:pending
MLS:
Property Area:150,000 SF
Class:A
Year Acquired:2017
Year Sold:N/A
Opportunity:Acquired excess corporate property. Modernizing with a $4-6 MM Cap X program.

 
980 Jolly Road in Blue Bell is currently 100% vacant – one of the few such buildings in the region. The property provides many benefits to large corporate users, including: redundant electrical service from two separate substations, full generator back-up, efficient 25,000 square foot floor plates, and abundant parking at an above-standard ratio of 5 spaces per 1,000 square feet of rentable area.Acquired with Artemis Real Estate Partners, the property is a 150,000 square-foot class A office building, situated on a 10.4-acre site, located in Whitpain Township, Montgomery County, PA.

Improvements to 980 Jolly will include a state-of-the-art fitness center with lockers and showers; a tenant-only conference and training center; a new café with modern lounge seating; and, upgrades to all common area finishes.

Located just 20 miles northwest of Philadelphia’s CBD, the property is conveniently accessible to the area’s major roadways, as it sits approximately 2.5 miles from the Plymouth Meeting Interchange, where routes I-476 (the Blue Route) and I-276 (the Pennsylvania Turnpike) intersect.

INVESTMENT RATIONALE

980 Jolly was excess corporate real estate that the seller needed to clear off their books quickly. We are modernizing the property via $4-6MM capital renovation, and leasing up one of the only large blocks of Class A space in the entire Philadelphia area.

 

 

 

 

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