CBRE Arranges Sale of 52,622-SF Office and Surgical Center in Chalfont, Pennsylvania

CBRE has arranged the sale of 1600 Manor Drive, a 52,622-square-foot Class A office and surgical center located within the New Britain Corporate Center in Chalfont. Pruthi Properties purchased the property from an affiliate of Equus Capital Partners, Ltd. for $12 million.

Doug Rodio, Jerome Kranzel and Bruer Kershner of CBRE’s National Office Partners team represented the seller in the transaction.

“We are seeing significantly more interest from local and national capital sources, both buyers and lenders, making thematic investments in high-quality, well-located office assets that have shown consistent leasing demand,” said Rodio. “This property’s sale to a first-time investor in the region is a highlight of that trend that we expect to see continue, as the conviction for placing capital in the right office buildings in strategic locations is stronger than it has been in years.”

Located just off County Line Road, 1600 Manor Drive offers immediate access to several major highways and nearby retail, including U.S. Routes 202 and 309 and New Britain Village Square, a GIANT Food–anchored shopping center. The two-story property is 100% leased, with an average lease term of 8.7 years across four tenants, each of whom signed leases within the past 24 months.