2500 York Road

Project Outline

SREA was hired to reposition a 60,000 square foot corporate office building located at 2500 York Road, Jamison, Pennsylvania and implement a plan to sell the property at the highest possible sale price.  Under SREA’s management, operations were restored, income was stabilized and the property’s value was enhanced, leading to the Building’s successful sale in 2012.

Services Provided

  • Created a comprehensive and well-executed transition plan
  • Conducted intensive physical and economic due diligence
  • Developed processes and procedures for accounts receivable and payable
  • Created building standard documentation to streamline leasing and management processes
  • Conducted monthly financial reporting
  • Conducted a renegotiation of service provider/vendor contracts
  • Improved tenant relationships
  • Implemented leasing and marketing campaigns
  • Oversaw capital improvement programs
  • Conducted property inspections with prospective tenants
  • Performed a financial analysis – leasing versus sale
  • Conducted lease negotiations
  • Provided disposition services

How SREA Added Value

SREA stabilized and enhanced the property value through the implementation of an aggressive leasing campaign, leasing over 30,000 square feet, and the establishment of operational protocols, which resulted in the successful sale of the property for $5.8 million ($98 per square foot).  Highlights of the assignment included:

  • Increasing occupancy from 29% to approximately 80% during a twelve month period; outperforming absorption pace in the market
  • Increasing average annual rental revenue by $523,000
  • Transforming the property from an income-losing to income-producing asset
  • Obtaining twenty-one (21) offers to acquire the property from qualified buyers