Brandywine Realty Trust has taken the first step to reintroduce itself to the Bala Cynwyd office market with its agreement to purchase a $4m office building.
The property, located at 9 Presidential Blvd, currently holds a two-floor, 27,000 sq. ft. office building that has been recently vacated by L.F. Driscoll. The building was put up for sale one of the Driscoll family’s affiliates.
The CEO of Brandywine Realty, Jerry Sweeney, explained that, although their plans are not finalized, the preliminary plan is to have an 180,000 sq. ft. office building put together at the new site. The property in question is a prime one for development as part of a modern zoning district promoting a mixed-use project geared around pedestrians and transit.
Brandywine is quite familiar with Bala Cynwyd; the 117,000-square-foot Bala Pointe Office Center, also on Presidential Blvd., was sold by the company nine years ago for $35.5m. At that time, the sale was made as part of the company’s plans to unload noncore properties in its local portfolio in favor of “strategically significant” and “higher-growth” choices.
If all goes according to plan, Brandywine may become a significant player in the Bala Cynwyd local office market, just as it is in Center City and Radnor. If this is the case, then local business card printing services will have a large office building full of new customers.
