Neighbor News
Keystone Property Group Announces 38,565-Square-Foot Lease with MRO Corporation
Lower Providence's 1000 Madison Avenue Reaches Full Occupancy
Keystone Property Group, a leading real estate developer, manager and investor of mixed-use properties, today announced that MRO Corporation has signed a 38,565-square-foot lease at 1000 Madison Avenue in Lower Providence, Pennsylvania. With the health information company relocating from its former King of Prussia location, the 101,650-square-foot building is fully occupied.
Keystone Property Group was represented by Jim Dugan and Patrick Nowlan of Newmark Grubb Knight Frank and in-house by Director of Leasing Richard Jones. Peter Greenhalgh of Waldron Commercial Realty Advisors represented MRO in the transaction.
The three-story building is located in the Lower Providence Park Pointe Business Complex, only 17 miles northwest of Philadelphia. The building, which fronts on Trooper Road, features a newly renovated three-story atrium lobby, recently renovated restrooms and common areas, a variable air volume HVAC system and meticulously landscaped grounds.
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“MRO was seeking to relocate to a Class A building with an experienced management team without sacrificing its access to Philadelphia,” said Richard Gottlieb, Partner at Keystone. “With this office at 1000 Madison, we were able to meet all of MRO’s needs, providing them with a first floor space, significant parking and a loading dock for deliveries.”
MRO is a leading health information exchange, providing technology-driven solutions that ensure the secure, compliant and efficient exchange of Protected Health Information (PHI). The company’s space at 1000 Madison will serve as its new headquarters.
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Located nearby Route 363, 1000 Madison is only minutes away from hotel, dining and shopping options, including the King of Prussia Mall. The property is proximate to other major highways including Routes 422, 202 and the Pennsylvania Turnpike, providing seamless access to Philadelphia International Airport.
About Keystone Property Group
Keystone Property Group develops and invests in commercial properties, creating inspired work and retail spaces that encourage collaboration and cultural vibrancy. With offices located in Conshohocken, Pa.; Miami, Fla.; and New York, NY, Keystone operates in well-located urban and suburban locations to build, revitalize, and unlock potential in office buildings designed to meet the evolving demands of the modern workplace.
The company, which also manages a set of real estate investment funds, has been recognized by Inc. 500 magazine, the Entrepreneurs’ Forum and the Wharton Small Business Center, and several of its projects have earned “Best Real Estate Awards” from the Philadelphia Business Journal and BOMA (Chicago). For more information, please visit www.keystonepropertygroup.com.
About Newmark Grubb Knight Frank
Newmark Grubb Knight Frank is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, NGKF’s 12,800 professionals operate from more than 370 offices in established and emerging property markets on six continents.
With roots dating back to 1929, NGKF’s strong foundation makes it one of the most trusted names in commercial real estate. NGKF’s full-service platform comprises BGC’s real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; capital markets services, including investment sales, debt placement, appraisal, and valuation services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services. For further information, visithttp://www.ngkf.com
NGKF is a part of BGC Partners, Inc., a leading global brokerage company servicing the financial and real estate markets. BGC’s common stock trades on the NASDAQ Global Select Market under the ticker symbol (NASDAQ: BGCP). BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol (NYSE: BGCA). BGC Partners is led by Chairman and Chief Executive Officer Howard W. Lutnick. For more information, please visit http://www.bgcpartners.com/.
