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Splash on Mermaid Lane

Sale Leaseback for DRS Communications
By Susan Thomas
April 25, 2002 | 3:00 P.M.

DRS Communications Co. LLC sold two buildings, 1100 and 1200 East Mermaid Lane in Wyndmoor, PA, to Free Range Associates. The sale price was not disclosed. Free Range Associates is a limited partnership headed by local real estate developer Eli Kahn. The new owner has leased the entire facility back to DRS. 1100 East Mermaid Lane is a 24,000-square-foot office/flex manufacturing building that sits on 1.4 acres of land. The building at 1200 East Mermaid Lane consists of 73,600 square feet of office/light manufacturing space on 2.2 acres. DRS Communications, formerly known as General Atronics Corporation, designs, develops and manufactures electro-mechanical systems and equipment, and digital signal and image processing software. Frank J. Cullen, president of Binswanger/CBB's Realty Group East, brokered the sale.

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