PROPERTY DESCRIPTION
The West Chester Office Plaza is a Class-B 116,733-square-foot office park consisting of 1 three-story building, 2 two-story buildings, 2 single-story office buildings and a 1/2 acre undeveloped lot. The property is located at the intersection of East Market Street and Westtown Road in West Goshen Township, Chester County, PA, approximately 1/2 mile from Route 202 and the Borough of West Chester, which serves as the county seat for Chester County. The buildings were completed between 1964 and 1976 and have been very well maintained.

LOCATION
The West Chester office market is located in the western suburbs of the Philadelphia office market. The market is an established suburban office node at the heart of the growing technology corridor of the Philadelphia region, known locally as the "Route 202 Corridor". The market has benefited from the significant growth in population over the past two decades associated with the residential and commercial development in Chester County. In 2003, the Industrial Standard ranked the Route 202 Corridor as "The Best Place to do Business for Tech Companies". While other areas within the Route 202 Corridor experienced some downturn as a result of the tech fallout, the Borough of West Chester and the area immediately surrounding it were insulated from this exposure, in part due to its diversified employment base, and West Chester's position as the county seat for Chester County.

GOALS
It is the Partnership’s goal, over the holding period, to increase the net operating income of the property by offering the tenants a convenient and affordable office environment. The Partnership believes the property can produce attractive operating cash flow and can be sold at a gain.

The General Partner has the authority to determine when the property will be sold and will continually evaluate an appropriate sales strategy. The timing of the sale will depend upon the condition of and prospects for the multi-tenant office market, value of the property, need for property repairs and due date of the loans. At this time the General Partner believes a sale will occur between years five and ten. There can be no assurances all goals will be achieved.