June 29, 2016
Ten Capital Management has paid $19.7 million for Stone Manor Corporate Center in Warrington, PA. The Cleveland-based investor acquired the 121,535-square-foot office property from Cornerstone Real Estate investors.
Located at 2600 and 2700 Kelly Rd., Stone Manor is 100% occupied. Frontage along Easton Road (Route 611) means the building has access to Route 202 and Interstate 276 (The Pennsylvania Turnpike), providing links to Philadelphia, Trenton, and the northwestern suburbs of Bucks and Montgomery Counties.
“Stone Manor presents an opportunity to acquire an institutional-quality asset in a strategic location with good demographics and access to on-site amenities and nearby retail,” said Ben Adams, the CEO of TCM.