Chester County Daily News Business Briefs

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The Pierre S. du Pont house at Longwood Gardens.

VISTA Today’s business briefs are short stories designed to get you up to date with what’s going on around the county. This morning:

SCCCC gets Insight on the $90 Million Longwood Garden’s Project

The “New Heights: The Fountain Revitalization Project,” a $90 million, 2 and a half year revitalization of Longwood Gardens was presented to the members of the Southern Chester County Chamber of Commerce (SCCC) last Thursday.

The project will involve extensive work on the landmark fountain, the center piece of the park, which has stood there for 83 years. Patricia Evans, Longwood’s communications manager, showcased the final plans and presented illustrations to show how the 2,000 pieces of deteriorating limestone being restored by a masonry company in Conshohocken will revitalize the fountains.

The project is designed to improve on Pierre S. du Pont’s design while maintaining its integrity. Thanks to improvements in technology since 1931, the gardens will see an increase to the number of water jets from 380 to 1,700. The new jets will not only shoot higher but include new features like flames.

The reopening is scheduled for spring 2017.

Daily News
Liberty Property Trust sold off the above office complex in King of Prussia.–photo via Philadelphia Business Journal.

Liberty Property Trust Sells Office Complex for over $60 Million

Malvern based Liberty Property Trust has sold its King of Prussia urban office complex for $63.5 million. The property consists of three buildings at 1170, 1180 and 1190 Devon Park Drive that total 250,185 square feet.

The main tenant, U.S. Liabilities, has its headquarters there as well as DrugDev, which moved its North American headquarters from Audubon, into 31,000 square feet at 1170 Devon Park. The complex is fully leased on a long-term basis to the tenants.

“We had nine offers on the property and some were international buyers which is nice to see in Philadelphia,” said Mike Margolis, an investment broker with Newmark Grubb Knight Frank, which oversaw the transaction.

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