$3.5 Million 'Suburban' Building Project

Local developers are breathing new life into a Main Line icon.

For nearly 100 years, from 1913 to 2010, the building housed The Suburban and Wayne Times newspaper.

Since its purchase last December, Cross Street Partners, LLC and Atwood Management, LP have adapted the building located at 134 N. Wayne Avenue to accommodate retail and office use.

“We want the building to continue to contribute to the character and sense of place you feel in Wayne,” said Brad Palmer, Principal of Cross Street Partners. “We are committed to maintaining the building’s historic elements while upgrading accessibility, improving energy efficiency and enhancing technological capabilities.”

Cross Street and Atwood had separately been looking for real estate development opportunities. They came together on this project based on a mutual desire to invest in the community and their overall excitement about the potential future of the property itself.

“The building was a real value in a thriving community,” said Jackie Emery, Principal at Atwood and Remington Group, Inc. located in Wayne.

The redevelopment project was kicked off last fall with strong interest from banks despite the fact that there were no tenants lined up at the time.

The partners raised $3.5 million, including the $1 million purchase price, reports Philly.com.

“We were surprised when we were approached by several banks who were interested in financing this project,” said Bill Connor, Principal of Atwood Management and Remington Group. “All we had been hearing was that banks weren’t lending but banks were actually competing for us, with First Priority Bank ultimately earning the business.”

Construction is underway to restore the building’s façade and common areas, as well as add an elevator for ADA compliance and completely replace the heating and cooling system. The first tenant, Little Nest Portraits, opened their doors on October 1 and the Bravo Group will move into the second floor in December.

The Bravo Group provides corporate, brand and issue advocacy for market leading businesses and influential non-profit organizations.

The remaining spaces in the Suburban Building are offered for lease through Chris Werner and Patrick Nowlan of Newmark Knight Frank Smith Mack.

“This is one of my most active listings,” said Chris Werner. “We get multiple calls a week, particularly for the available retail space. Several restaurants are interested in the Suburban Building due to its prime location in a landmark building in the heart of downtown Wayne, along with its easy access to the train station and major highways.”