|Address:||2200 Renaissance Boulevard|
|City:||King of Prussia|
|Property Area:||176,156 SF|
|Opportunity:||Acquired distressed property. Repositioned with $3.6 MM Cap X program.|
Triad (2200 Renaissance Boulevard) is a four-story suburban office building containing 180,000 square feet of Class A office space. The building is well built with architectural details that are difficult to replicate. The building features a 55′ atrium lobby with an accenting centered skylight, 8’9” finished tenant ceiling heights, incredible window line and scenic views. Triad also offers tenants convenient on-site amenities, including: Triad Café; the new Triad Fitness Center with state-of-the-art equipment, lockers and showers; and the tenant-only Triad Conference Center. As an additional rare amenity in the Philadelphia suburban market, Triad has private executive parking underneath the building servicing an additional 68 vehicles.
Acquired in a JV with Artemis Real Estate Partners, Triad is a four-story, 1985 vintage, Class A office building located in King of Prussia, PA, a suburb of Philadelphia.
Increase property NOI through a $3.6 MM capital project, repositioning, and re-leasing of the distressed asset.
Purchased Property at a steep discount from Lender who had acquired title from the defaulted borrower.
Triad offers one of the few blocks of large Class A office space, as the surrounding Radnor and Conshohocken markets continue their strong recovery.