King of Prussia office building sells for $30M

CBRE Group Inc. said Tuesday it arranged the sale of the Class A Triad office building in King of Prussia for $30.2 million.

The four-story, 184,118-squarefoot property at 2200 Renaissance Boulevard was acquired by Zamir Equities LLC.

Robert Fahey, Jerry Kranzel and Erin Hannan of CBRE Capital Markets’ Institutional Properties team represented the seller, Kairos Real Estate Partners during the transaction.

“Triad was pursued by a series of local and regional investors,” said Fahey. “They were attracted to the first-class renovation completed by the Kairos team, the strong tenant roster, long-term leases and durable in-place cash flow that Triad had to offer.”

Built in 1985, the Triad building underwent extensive renovations in 2014, including the addition of a café, conference center and fitness center. The lobbies and common areas were also redesigned and upgraded during the renovations.

The building is currently 96 percent leased with tenants including Liberty Mutual Insurance Co., ASI Business Solutions and Telerx Marketing, among others. CBRE’s Steven Doherty and Nick Harris of the Debt & Structured Finance group secured the acquisition loan on behalf of the purchaser for an undisclosed amount.

West Chester marketer wins award

Maria L. Novak, president and founder of Marketing Solutions & Business Development in West Chester, has been named a 2016 Solution Provider All Star Award winner by Constant Contact Inc. The firm assists small businesses in all aspects of marketing, company growth, and goal implementation. It is the second consecutive year that Maria has received this honor.

The annual award recognizes the most successful 10 percent of Constant Contact’s Solution Provider base, recognizing these select organizations for their significant achievements leveraging online marketing tools to drive results for their clients.

“I am thrilled that Constant Contact has recognized me as I have been using their tools for many years to assist my clients’ email marketing needs,” said Novak, who has been in business nine years.

Constant Contact Solution Providers are businesses that provide services tailored to the needs of small businesses or nonprofits – everything from web developers, to online marketing consultants, to advertising agencies and more. Criteria used to select this year’s All Stars included the following:

• Level of engagement with email campaigns

• Open, bounce, and clickthrough rates

• Use of social sharing features

• Use of mailing list sign-up tools

• Use of reporting tools.

The Triad office building in King of Prussia recently was sold.