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WP Realty sells Paoli West Professional Park

BRYN MAWR, PA – August 5, 2009 – WP Realty, a real estate investment, development, management and leasing company headquartered in Bryn Mawr, Pennsylvania, is pleased to announce the sale of Paoli West Professional Park in Paoli, Chester County, Pennsylvania.

The multi-tenant medical office complex is located at 15 and 17 Industrial Boulevard, less than a quarter mile from U.S. Route 30, (Lancaster Avenue), which is a busy thoroughfare linking the City of Philadelphia to the affluent Main Line suburbs.

U.S. Route 30 also connects with U.S. Route 202 and Route 29 about a mile away, which provide convenient access to all major roadways, including the Pennsylvania Turnpike (I-276), the Schuylkill Expressway (I-76), and the Blue Route (I-476). The Paoli train station is one mile to the east and multiple bus routes service the area, which is approximately 30 miles west of downtown Philadelphia.

Paoli West is adjacent to Paoli Hospital and several Class A professional office complexes. It is also close to Bryn Mawr, Phoenixville and Chester County Hospitals, making it a rare and desirable location for medical professionals. The property is comprised of 2 two-story buildings consisting of 19,237 square feet that sit side by side on 1.3 acres and are buffered by attractive landscaped areas and brick walkways. It is well-maintained and has enjoyed a long history of stable occupancy. Paoli West is currently 94% occupied, and the largest tenant is Pediatric Associates of Paoli in 2,500 square feet.

The sale was brokered by Stephen Marzullo, Senior Vice President, and Douglas Rodio, Vice President, of CB Richard Ellis’ Metro Philadelphia Private Client Group (PCG).

WP Realty is an integrated commercial real estate company that currently owns and/or operates over forty shopping centers located in the Northeastern and Mid Atlantic states, and sixteen commercial properties along Philadelphia’s Main Line corridor.