The Opportunity

With its Class-A location adjacent to Philadelphia at the intersection of the Schuylkill Expressway (I-76) and City Avenue, this class "C" 50 year old, four story office building in Bala Cynwyd, Pennsylvania, had potential but would require significant capital improvements. Also, at the time of purchase, it was 80% vacant.

The Strategy & Execution

Our strategy was to lease a large amount of vacant contiguous office space where few opportunities existed in the market. We created a modern look to the building by replacing the old single-pane windows and panels with a curtain wall of insulated vision and spandrel glass. We increased the glass line and signage opportunities. We also relocated the main entrance and updated lobbies, restrooms and common areas.

The Result

By repositioning the property with the right renovations and marketing, we were able to create a mixed-use Class-A office and retail space with lasting design and signature style. Our work helped raise rents by 45% to match comparable Class-A market rents. New tenants include a retail branch for Citibank and office space for Hamilton Lane Investment Advisors and Global Solutions.

To find out more about Keystone, contact our team today.