Triad - King of Prussia

Office
Price:
Address:2200 Renaissance Boulevard
City:King of Prussia
State:PA
Zip:19406
Website:triad2200.com
MLS:
Property Area:176,156 SF
Class:A
Year Built:1985
Year Acquired:2013
Year Sold:N/A
Opportunity:Acquired distressed property. Repositioned with $3.6 MM Cap X program.

triad-logo

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.

INVESTMENT RATIONALE

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.

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