Description:

KW Commercial is pleased to exclusively present for purchase this Class A Office / Flex Condo building located in West Chester, PA. The offering includes five condo units for sale as one package which is currently occupied by a single tenant, a long-term medical development and device company. The purchase includes majority ownership in the building and majority voting rights for the Condo Association.
The total square footage being purchased is 19,043 SF which consists of 15,148 SF of Class A office space and 3,895 SF of temperature-controlled open warehouse / flex / storage space. The current tenant has been a long-term tenant in the building and their lease expires in June 2022, however they have a one year option through June 2023 that could be exercised if desired by the future owner. They have contributed significant capital to their space over the years and could continue to be a long-term tenant if desired, or they could move out this year and the new owner would have 19,043 SF for their own business or to lease.
The current tenant operates out of units 1, 3, 4 and 5 and the 2,500 SF unit 2 is currently vacant and they have a ROFR to expand into that space. The current lease in place is a NNN lease and the tenant pays $22,549 per month in base rent and $7,428 per month in CAM. Total Annual Rent including CAM is $359,724. If the option is exercised, the Total Annual Rent and CAM as of July 2022 would be $366,888.
The open warehouse space offers high ceilings with a 16' clear to the bottom of the lowest joists. There are two 10' x 10' Drive-In doors. The main warehouse space is 2,500 SF and there is a 1,395 SF mezzanine. The building has been meticulously maintained and there should be no deferred maintenance for new ownership for a number of years. Recent capital improvements include new HVAC units throughout, LED lighting throughout, new water heaters for multiple units, automated stat temp controls, newly renovated open floor plan, new automated ceiling fan in warehouse, new garage doors in warehouse, and newly renovated reception area. Outdoor amenities include a gazebo and picnic area. There are 50+ parking spaces on site and the current owner has a lease with the American Helicopter Museum to provide an additional 25 spaces when needed.
Class A Flex Building Built in 2005
19,043 SF Available for Purchase
16' Clear Ceiling Height
2 New 10' x 10' Drive-In Doors
50+ Parking Spaces Plus 25 Additional Spaces When Needed

Presented by:

Carl  Adams,  e-Pro, GRI

Director

(215) 803-8507

(215) 803-8507

Click here to email

Listed by:

Crownstone Investment Group