Summary: 13,000 square feet
Address: 204-206-208 Old Lancaster Road, Devon, PA
Three office buildings were previously owned by a local company
that had been sold to a national corporation. After that sale the
buildings became underutilized and had fallen into disarray.
The property was formerly part of the Beaumont estate and was
originally used as a Philadelphia business man’s summer retreat
in the late 1800’s. The stone building on site was built in the Queen Anne style,
popular at the turn of the century.
Situated on two (2) acres with mature red maple, cedar, and oak trees, rarely
does an opportunity arise to assemble three (3) office buildings in a campus like
setting in the middle of one of the most desirable residential neighborhoods in the greater Philadelphia area. Positioned ¼ mile from Lancaster Avenue (Route 30) and the Devon Train Station, the Property offered a unique ownership opportunity for entrepreneurial, professional, and corporate users along the prestigious main line. Through extensive due diligence Verus became aware the property was set up as a condominium and that the buildings could be sold individually. Verus made extensive improvements to the buildings and marketed them as office condominiums. The Property was converted into a Class “A” condominium office complex.
Verus was able to rehabilitate the buildings with class “A” finishes and standards while preserving the class and charm the Property once had in the late 1800′s. One of the most difficult challenges facing small businesses is ability to own a small, standalone office building along Philadelphia’s prestigious Main Line. Verus was able to create a development for small companies to have an office building that allows them to have the signage and recognition typically associated with larger suburban office buildings.
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