Pembroke Capital has paid $37.85m for a 165,000 sq ft class A office building in King of Prussia, Pennsylvania. The four-story building sold for just under $230 per sq ft. The sellers, a joint venture between Taconic Capital and Cohen Equities, recently completed a $4.2m comprehensive modernization of the property. Improvements included enlarging and remodeling the lobby, creating all new common areas and restrooms, full replacement and addition of windows, as well as the addition of two common area conference rooms.
