The office buildings Millennium I, Millennium II and Millennium III, located on Conshohocken’s river front, are for sale.
Holliday Fenoglio Fowler, L.P. (HFF), on behalf of the owner, is marketing a portfolio of three value-add creative office properties for sale in the Philadelphia-area community of Conshohocken, Pennsylvania. Ahead of its time when completed between 2000 and 2002, Millennium One, Two and Three (collectively named “Millennium”) total 196,769 square feet and are currently 96 percent occupied. The portfolio presents investors with a creative Class A, value-add opportunity in a transit-oriented location in one of Philadelphia’s top-performing submarkets.
In the announcement, there is an interesting paragraph about the health of the office space market in Conshohocken:
Conshohocken is among the single, most dynamic, live-work-play locations in the Greater Philadelphia region. With asking rents approaching $40.00 per square foot in the trophy sector and occupancy rates hovering around 95 percent in the Class A sector, the Conshohocken office submarket has historically outperformed the market at large and has been the most well received by tenants and institutional investors.
You can see the entire announcement here.