The Bucks Local News reported on the recent purchase of a Bucks County Corporate Center, Rubenstein Partners secure $63 million in financing to purchase Lower Makefield Corporate Center
Affiliates of Rubenstein Partners acquired the eight-building, 467,000-square-foot Yardley office complex this month. Affiliates of Rubenstein Partners acquired the eight-building, 467,000-square-foot Yardley office complex this month, with Rialto Capital Management providing separate mortgages for the property’s two distinct campuses on Stony Hill and Township Line roads.
The article went on mention a few items which made the suburban office market especially attractive:
Lower Makefield Corporate Center offers a distinctive combination of high-quality office product at an attractive basis, strong sponsorship, and positive leasing momentum – in a market defined by consistently appreciating fundamentals.
As we see it, there is a lot of value in investing in suburban office buildings and corporate centers with the right value-add strategy. There are plenty of recent examples of suburban corporate centers and office parks selling at a discount.
Figuring out how to reduce vacancy while providing the amenities desired by today’s office tenants will be a key to a successful real estate investment.