Press Release (ePRNews.com) - FORT WASHINGTON, Pa. - May 23, 2017 - Avir Realty Group has named Cushman & Wakefield as exclusive leasing agent for 1301 Virginia Drive in Fort Washington. The commercial real estate firm’s John Shelly and Gina Brennan, based in the Conshohocken office, are heading the assignment.
“The landlord is committed to delivering a fully renovated and modernized Class A office property, including new building systems, common areas and an extensive landscaping redesign,” said Shelly. “It will be a completely different project when these upgrades are completed, and the timing is ideal for bringing this superior block of space to the market.”
Richard Smith, principal of Avir Realty Group, said this acquisition will complement its existing sister building 1300 Virginia Drive.
“The building is currently 65 percent leased, to one tenant who will be vacating this fall,” said Smith. “By the end of the year, we anticipate completing the renovation of the lobby as well as all the bathrooms on each floor, an upgrade of the elevators, a new exterior entrance and new landscaping, including the courtyard. The building system upgrades include a gas-fired rooftop HVAC unit that will be 25 percent more economical than electric,” Smith said.
Located within Maplewood Office Park, the four-story, 104,433-square-foot building is strategically situated at the entrance to the Virginia Drive slip ramp to the Pennsylvania Turnpike and just 25 minutes from Center City Philadelphia. Walkable amenities include restaurants, hotels and shopping, as well as access to nearby commuter rail and bus service.
“We have seen a tremendous number of active deals in the rapidly improving Ft. Washington submarket,” Smith noted. “The township manager has done a terrific job of positioning the area as pro-business and a great place for companies to expand or relocate.”
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. Our 45,000 employees in more than 70 countries help occupiers and investors optimize the value of their real estate by combining our global perspective and deep local knowledge with an impressive platform of real estate solutions. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $6 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. 2017 marks the 100-year anniversary of the Cushman & Wakefield brand. 100 years of taking our clients’ ideas and putting them into action. To learn more, visit www.cushwakecentennial.com, www.cushmanwakefield.com or follow @CushWake on Twitter.
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