|Last Updated Date||27 Jan 2020|
One Tower Bridge benefits from unparalleled visibility and accessibility from its prime location in West Conshohocken’s favorable tax environment. The Property provides qualified investors an opportunity to acquire the premier office building in all of suburban Philadelphia at a significant discount to replacement cost. One Tower Bridge features a diversified tenant roster, a balanced lease expiration schedule with a weighted average lease term of 6.07 years, and below market in-place rents. Approximately thirty-seven (37%) of the Property is leased by Morgan Stanley (Moody’s Credit Rating: A3), one of the top investment banks in the world, which recently executed a 11-year renewal and has a remaining lease term of 9.75 years. As a result, the asset offers investors a stable in-place cash flow with upside through the lease-up of the remaining vacancy and a near term mark-to-market opportunity resulting from below market rents.
Jones Lang LaSalle Americas, Inc (“JLL”), has been retained on an exclusive basis to arrange the sale of One Tower Bridge (the “Property”), a 15-story, 271,138 square foot, best-in-class, trophy office building located in Philadelphia’s premier office market of Conshohocken.