Maguire Hayden has purchased the 300 Four Falls office building for $98.4 million, just below the $100 million it sold for in 2006. This time around, the 297,320 square-foot building in Conshohocken, PA sold for just under $331 per square foot. The new owner of the seven story building built in 2003 plans to upgrade the property with new lighting and other “high-impact improvements.”
“We like the market a lot and this was strategic. We wanted to buy something for the long-term,” said Tony Hayden Jr. “We feel suburban office properties haven’t become the flavor of the month with the institutional guys. They are chasing apartments downtown and industrial properties. If this was an office building downtown, it would have been: Katy, bar the door!”
