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COPT Divests Arborcrest Corporate Campus in Blue Bell

839,000-SF Redeveloped Office Park Trades for $142.7M
August 8, 2016
Spear Street Capital has acquired the Arborcrest Corporate Campus comprised of 721-751 Arbor Way, 801 Lakeview Dr. and 785 Jolly Rd. in Blue Bell, PA from Corporate Office Properties Trust (COPT) for $142.7 million, or about $170 per square foot.

The office project consists of four operating office properties totaling 654,000 square feet that are currently fully leased, a 190,000-square-foot redevelopment opportunity that is vacant, and 27 acres of excess land located in the Plymouth Meeting / Blue Bell submarket of Montgomery County, north of Philadelphia.

Both parties reportedly handled the direct sale in-house.

Please see CoStar COMPS #3668183 for additional information on this transaction.
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