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The Henderson Group Acquires Five Buildings of Professional Space in Newtown Square from Brandywine REIT

Thursday, November 30, 2017

One of Henderson's newly acquired buildings of professional space, 17 Campus Blvd. in Newtown Square, Pennsylvania.


Source : The Henderson Group

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The Henderson Group, one of the leading commercial real estate development companies in the Greater Philadelphia region for more than 90 years, announced today that it has acquired five buildings of professional space encompassing 250,000 square feet in Newtown Square, Pennsylvania from Brandywine REIT. JLL brokered the $42 million deal which closed on November 22.

All five properties are located on Campus Boulevard at the intersection of West Chester Pike and Route 252 in Newtown Square, convenient to local amenities, retail stores and historic, renowned attractions, such as the Aronimink Golf Club and Ellis Preserve. All but one of the buildings, 17 Campus Boulevard, are currently occupied. Henderson will actively pursue new tenants to lease the two-story, 50,000 square foot space, which is ideal for financial services, professional services and healthcare companies.

"When clients choose Henderson, they trust that we can grow with them as their business grows. Our mission is to be the premier workplace provider in the region, and through strategic acquisitions of office and flex properties in desirable locations, we'll further expand our footprint and offer a greater inventory selection to current and prospective clients," said Brian Wilbur Coyle, president and chief executive officer of The Henderson Group. "Our 90-year history is rooted in construction and ground-up development, and we'll also continue to build new Class-A space to meet our tenants' evolving needs."

The Newtown Square acquisition further expands the company's robust Delaware County portfolio, but also positions Henderson for viable future expansion into additional sub-markets like Chester County and Montgomery County. Henderson currently owns and operates more than three million square feet of commercial real estate and plans to reach 10 million square feet within the next 10 years.

In August, Henderson completed the construction of Brandywine 6, a state-of-the-art office building in Chadds Ford, Pennsylvania, which is the new headquarters for Franklin Mint Credit Union, the largest financial institution in Delaware County. The 70,932 square-foot building features a two-story, glass-enclosed cafe with a grand staircase that will produce tremendous work flow, communication and camaraderie among employees.

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