PHILADELPHIA – Jan. 20, 2020 – JLL Capital Markets announced today that it has completed the sale of 150 Monument Rd., a 132,986-square-foot, Class A office building in Bala Cynwyd, a suburb of Philadelphia, Pennsylvania.
JLL marketed the property on behalf of the seller, Keystone Property Group and procured the buyer, FLD Group. Acquisition financing was provided by MidCap Financial Services, LLC.
150 Monument Rd. is positioned within an amenity-rich location in the live-work-play community of Bala Cynwyd, which has historically been one of Philadelphia’s strongest performing submarkets. The six-story building is positioned on 6.5 acres and is proximate to major highways, including the Schuylkill Expressway and U.S. Route 1 with easy access to Route 3 and Interstate 476. Additionally, the property is just one mile from the Bala Train Station for service into Center City Philadelphia approximately seven miles away.
Recently renovated, 150 Monument Road is leased to a diverse rent roll of tenants comprising both national investment grade and an array of smaller, regional tenants. The property features floor plates of approximately 20,500 square feet and offers on-site parking in a four-story parking structure.
The JLL Capital Markets team representing the seller was led by Managing Director Brett Segal and Senior Managing Director Doug Rodio.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
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