Two Big Commercial Real Estate Transactions This Past Week in Conshohockens

This past week saw two big commercial real estate transactions in the Conshohockens. First the Residence Inn in Conshohocken was sold to by Brandywine Realty Trust to HHM for $26.5 million. Later in the week an investment group sold 300 Four Falls in West Conshohocken to an affiliate of Maguire Hayden Real Estate Co. for $98.4 million.

From the Philadelphia Business Journal on the sale of the Residence Inn:

The hotel in 2014 underwent a renovation that included new bar and lounge, an indoor pool, fitness center and an outdoor sports court.

Brandywine (NYSE: BDN) owned 50 percent of the property as part of a joint venture which originally developed the hotel in 2001, according to the company.

The $26.5 million sale equals about $193,430 per room key.

From on the sale of 300 Four Falls:

Maguire Hayden closed Friday on the seven-story, 298,482-square-foot property, Cozen O’Connor said in a release. The property is the biggest Class A office buiding in the West Conshohocken market, it said.