The Opportunity

Keystone saw Gulph Crossing in King of Prussia, Pennsylvania, as an undeveloped 4.8-acre site that had Class-A office potential. Positioned just one mile from the King of Prussia Mall, the property provided excellent access to five major area roadways.

The Strategy & Execution

We substantially mitigated risk before buying the asset by identifying all costs beforehand and pre-leasing the majority of the building before we broke ground. We constructed a 48,000 sq. ft. state-of-the-art medical office building. The design included a two-story atrium lobby with top quality finishes throughout plus a covered parking lot.

The Result

We secured long-term financing three months before Gulph Crossing opened. The property was pre-leased at 80% during the time of acquisition and 96% within the first year. Marquis tenants included Sun Life Assurance company and the Upper Merion Dental Associates. Our Keystone team won the Philadelphia Regional BOMA award for "Cleanest Building" in 2006 and 2007.

To find out more about Keystone, contact our team today.