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Monday, 01 January 2001

Mid-Atlantic Regional Digest (1/2/01): O'Neill set to build $90 million complex in Pa.

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January 2, 2001

O'Neill set to build $90 million complex
Philadelphia Business Journal, January 2

WEST NORRITON, Pa. – O'Neill Properties Group purchased the Betzwood Industrial Park and plans to transform the property into a $90 million office, apartment and hotel complex. The 63-acre site, adjacent to Valley Forge Park and the Schuylkill River, is now home to about 250,000 square feet of industrial and light manufacturing space. O'Neill purchased the site for about $10 million to $15 million from Carmel Associates. The office portion of the development will kick off the project, beginning next spring or summer. About 600,000 sf of office space is planned and will be built in several phases. The first phase will likely be 250,000 sf. Plans also call for 400 luxury apartments.


Big plans for Four Falls site
Philadelphia Business Journal, January 2

WEST CONSHOHOCKEN, Pa. – Conshohocken Acorn Development Corp and Berwind Property Group have teamed to build a $60 million-plus speculative suburban office development next to the Four Falls Corporate Center in West Conshohocken. The developers plan to break ground in February on a seven-story, 290,000-sf Class-A building which will be named 300 Four Falls Corporate Center. The building is expected to cost more than $200/sf. The project is expected to be ready by summer 2002. Rents will run between $32/sf and $35/sf. No tenants are lined up, yet but it is anticipated that it will be 60 percent leased before construction is complete.


4 Penn owner unfazed by the lack of tenants
Philadelphia Business Journal, January 2

PHILADELPHIA – Leggat McCall's Properties, 500,000-sf office tower, Four Penn Center, will reopen in six months. No tenants have signed up for the tower located at 1600 JFK Blvd. McCall is investing more than $80 million to transform the 20-story building into a Class-A property.


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  • Subject: Mid-Atlantic Regional Digest (MADIG)
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