Bridge Investment Group sells Philadelphia-area specialty office property
Bridge Investment Group announced that it has completed the sale of 1400 Union Meeting Road, a 199,532-square-foot, two-story office building in Blue Bell, Penn.
JLL represented the seller and procured the buyer, a foreign private investor.
1400 Union Meeting is on 18.6 acres in the heart of Montgomery County, minutes from three primary thoroughfares in the Philadelphia suburbs, Interstate 276 and I-476, and U.S. Route 202. The area’s shopping and dining destinations include the Plymouth Meeting Mall. The property is near the neighborhoods of King of Prussia, Conshohocken and Center City.
Originally built in 1961, the property is a value-add opportunity zoned for scientific, agricultural or industrial research or development. The life sciences-enable property is now vacant and provides the buyer with options on how to reposition the property.