PHILADELPHIA–May 7, 2019 – Metro Commercial Real Estate, Inc. (Metro), one of the nation’s leading full-service, independent retail real estate firms, is pleased to announce the sale of seven parcels that are located in the Great Valley Corporate Center in Malvern, Pennsylvania to Philadelphia Suburban Development Corporation (PSDC). The Metro sales team representing the seller, Liberty Property Trust, was led by Executive Vice President of Brokerage Services and Principal, Joe Dougherty; and Executive Vice President of Brokerage Services and Principal, Steve Niggeman.
Great Valley Corporate Center is located at the intersection of Route 29 and Great Valley Parkway. The sale, which included three office buildings totaling 76,839 square feet and four land parcels equal to 19.37 acres of vacant land, encompassed the following:
- 309-315 Technology Drive: A 30,150-square-foot building, standing on 3.09 acres
- 18 Great Valley Parkway: A 29,419-square-foot building, standing on 3.75 acres
- 10 Great Valley Parkway: A 17,270-square-foot building, standing on 3.66 acres
- 380 Old Morehall Road: 4.4 acres of vacant land
- 351 Old Morehall Road: 9.7 acres of vacant land
- 6 Great Valley Parkway: 5.15 acres of vacant land
- 321 Old Morehall Road: .12 acres of vacant land
“Metro Commercial is proud to represent Liberty Property Trust on the sale of the seven parcels that are a part of the Great Valley Corporate Center. We believe there is unlimited potential for PSDC to redevelop the land and office buildings to fulfill a need in this ever-growing business hub,” said Joseph Dougherty, Executive Vice President of Brokerage Services and Principal at Metro Commercial. “As one of the fastest-growing suburbs in Metro Philadelphia, Malvern offers a prime location for corporations and employees, with easy access to major throughways, housing and apartment communities, and multiple retail and entertainment centers.”
The Great Valley Corporate Center is conveniently located in Chester County, one of Philadelphia’s most dense suburban office markets providing convenient access to Route 202 and Interstate 276 (Pennsylvania Turnpike). Major employers in the area include Vanguard, Siemens Healthcare, Johnson & Johnson, Microsoft, Penn State Great Valley, Paoli Hospital, and Drexel University’s LeBow College of Business.