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Zamir buys $184k-sf Triad office complex in King of Prussia, PA

 

Zamir Equities has successfully completed the acquisition of Triad, 2200 Renaissance Boulevard, within the prestigious Renaissance Corporate Park, in King of Prussia, Pennsylvania.

 

Built in 1985, Triad is an 184,118 square foot, multi-tenanted, immaculately maintained, Class A, office building. With credit-grade tenants, and long-term leases, Triad is anchored by Liberty Mutual, RatnerPrestia, and Telerx Marketing, a subsidiary of Merck & Co.

 

“King of Prussia is becoming one of the most exciting reimagined cities in the U.S., especially for millennials, with extraordinary new growth and commercial opportunities,” said Asher Zamir, Founder and Chairman, Zamir Equities. “This is our first commercial real estate investment in Pennsylvania, and acquiring Triad solidifies our vision and commitment to King of Prussia and the Philadelphia submarket. We are pleased to become an active participant in King of Prussia’s emerging success story.”

 

Triad recently experienced the completion of almost $4 million in renovations, including the lobby and a common area upgrade, the café and fitness center, a new cooling tower and chiller, along with significant landscaping and exterior upgrades, resulting in nearly 150,000 square feet of leasing activity, across 15 tenants during the past 24 months.

 

With excellent space flow on every floor, minimal interior columns, spectacular views, and abundant natural light, Triad’s tenants enjoy access to a well-equipped full service cafeteria, and a fitness center with lockers. Triad also offers underground parking, outdoor balconies, a conference center and direct access to a local jogging trail.

 

“Acquiring Triad produces significant scale of management and operations in our Pennsylvania and South Jersey portfolio,” said Asher Zamir. “Now, within a 25-mile radius, Zamir Equities owns nine other Class A office assets, totaling more than 1,000,000 square feet of rentable square footage. In the past 12 months, we’ve successfully leased, expanded and renewed in excess of 120,000 square feet within our portfolio, and now with Triad, our Zamir Equities investment strategy will continue demonstrating substantial growth, improvements to our properties, and a respectable return on investment."

 

Founded by Asher Zamir in 2003, Zamir Equities is a privately held New York City-based, integrated real estate private equity firm. Currently, Zamir Equities cumulatively owns and manages in excess of $300 million worth of properties, encompassing more than 1.5 million square feet. Recognized for their astute acquisition proficiency, along with unparalleled real estate management, leasing and marketing experience, Zamir Equities specializes in risk-adjusted market returns in both undervalued and stabilized real estate assets. Zamir Equities is headquartered in the heart of midtown Manhattan in the Fred F. French Building, a magnificent 38-story art deco building erected in 1927, and listed on the U.S. National Register of Historic Places.

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