Bay Colony provides qualified investors the core-plus opportunity with value add upside to acquire one of the highest quality office campuses in Greater Philadelphia. Bay Colony offers strong in-place cash flow with a near term mark-to-market opportunity and additional leasing potential. Rental rates in the Swedesford Road Corridor have increased more than 15% over the past 3 years. At Bay Colony, 37,050 square feet leased at rents 6.9% below market expires in the next 24 months, offering investors a chance to capitalize on this growth. Additional upside is available through continued leasing efforts as the primary competitive set enjoys occupancy levels at or approaching 100%. Bay Colony features a diversified tenant roster, a balanced lease expiration schedule with a weighted average lease term of 5.7 years, and benefits from Tredyffrin Township’s favorable tax environment.
Jones Lang LaSalle IP, Inc (JLL) has been retained on an exclusive basis to arrange the sale of Bay Colony (the “Offering” or “Bay Colony”), a 91% leased, four building, Class A office campus totaling 250,367 square feet, located in King of Prussia Pennsylvania, Philadelphia’s premier suburban submarket. Bay Colony recently underwent a best-in-class modernization program totaling almost $7.1 million which turned the Offering into one of the premier office destinations in Greater Philadelphia’s most desirable location.