200 Lawrence Drive, West Chester, PA

200 Lawrence Drive, West Chester, PA, 19380

Acquisition Date: Oct 2016
Acquisition Price: $9,000,000
Acquisition Cap Rate: 11.5%
Current Market Value: $10,630,000

Building Size: 111,451 SF
Acquisition Cost per SF:  $80.75
Property Type: Office Flex
Major Tenants: Animas Corporation, a subsidiary of Johnson & Johnson
Occupancy: 100% (single tenant)
Investor Returns: 16% annual return on investment, in line with projections

Highlights:  This property is a quality asset in a solid location, in a suburb of Philadelphia with strong demographics and a class A tenant.  At acquisition, the existing lease with the tenant had a remaining term of 4.5 years, resulting in a favorable acquisition price due to the perceived risk of non-renewal by the tenant.  Through extensive due diligence, Envision mitigated the risk of non-renewal by receiving assurances from the tenant that the tenant will remain long term.

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