550 East Swedesford Road, Wayne, PA 19087

Property Overview

CrossPoint is a 272,360-square-foot office building located in the Wayne suburb of Philadelphia. This award-winning building is Wired Certified through WiredScore being recognized nationally for meeting the highest standards of technological superiority in connectivity and infrastructure. Originally built in 1974 as two buildings, it was renovated in 2014 and is now one LEED Gold certified, Class A building with an impressive two-story atrium that connects two four-story wings. Ceiling heights are a minimum of nine feet and large spans of floor-to-ceiling windows allow for an abundance of natural light.

CrossPoint provides tenants with a full-service dining facility and conference center. The modern café has indoor and outdoor seating, and has been outfitted with Wi- Fi and television monitors. The oversized fitness center allows tenants to set up training sessions and participate in fitness classes on site. In addition to surface parking, CrossPoint provides 45 covered parking spaces, in a submarket where covered parking is not common. The building was 95% leased at acquisition.

Investment at a Glance

Location: Wayne, PA

Property Type: Class A Office

Acquisition Date: August 18, 2015

Purchase Price: $89,500,000

Sale Date: July 19, 2019

Sale Price: $97,700,000

No. of Buildings: 1

No. of Stories: 4

Square Footage: 272,360 SF

Year Built: 1974/2014

Leased Percentage (at the time of Acquisition): 95%

Square Footage: 25.31 Acres

$89,500,000 Total Purchase Price
272,360 square feet Total Rentable Area
Class A Building Class