PROPERTY DESCRIPTION
This property is a single story office/flex building located in the Valley Forge Corporate Center in suburban Philadelphia, PA. The 25,150-square-foot brick building was constructed in 1987.

Although the building is 100% leased, the tenants, for various reasons, do not occupy their spaces. (XO utilizes about 1,000 square feet of their space for a telephone switching “node” but no personnel are in the office.) All tenants will continue to pay rent until their leases expire.

This unique situation provides us an opportunity to generate cash flow from the property while we market the space to new tenants. The lack of personnel in the offices and the tenants’ desire to be relieved of their lease obligation provides us tremendous flexibility in being able to market various size suites. For instance we could lease 24,000 to one user or break the space into four (4) 6,000 square foot suites. (XO will retain 1,000 square feet for their switching node.) It is our intention to retenant the building over the next two to three years and then sell the building. We believe this new and diversified rent roll will enhance the value of the property and allow us to sell it for more than the original purchase price.

BUILDING DESCRIPTION
The building is approximately 80% office space and 20% warehouse/dock and it is constructed of steel frame with brick veneer walls and coated aluminum insulated windows.

At the rear of the building there is a drive-up door, and two dock-level doors entering the dock/warehouse area. The roof is a newly installed single-ply rubber membrane with stone ballast. The HVAC systems are roof-mounted gas-fired forced air heating and cooling equipment with in-ceiling ductwork for distribution. The building has a sprinkler system for fire protection. Interior finishes include metal-stud partition walls covered with painted gypsum board, acoustical tile ceilings, recessed lighting and carpet in the office areas and linoleum tiles in the warehouse areas.