Brandywine Realty Trust has sold the Plymouth Meeting Executive Campus for $65.5 million — less than what the trust paid for four of the five buildings more than two decades ago. The five-building Class A office complex spans 22 acres and is located near the intersection of I-476 and I-276 and adjacent to the Plymouth Meeting Mall and a Whole Foods. It was purchased through a partnership between New Jersey-based FLD Group and New York’s Adjmi family and just a year after the same partnership bought the five-building Bala Plaza in Bala Cynwyd for $185 million. Bobby Adjmi, principal of A&H Acquisitions, said there are no redevelopment plans at Plymouth Meeting Executive Campus. Instead Adjmi said they look forward to “rebranding and providing our clients with improved amenities and attentive service that a first-class office campus deserves.”
Source: Philadelphia Business Journal; 10/23/2024