Turnaround Redeveloper Tripoint Properties Targets West Chester Office

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A 43,000-square-foot, one-story office building in West Chester could be a diamond in the rough if Downingtown’s Tripoint Properties employs its turnaround magic on 1060 Andrew Drive.

Though fully leased to five tenants, the $6.55 million deal foreshadows a change of course there — at least structurally.

“Tripoint calls upon the experience, vision and creativity of its management team to discover untapped value in overlooked buildings,” the company states on its website. “Tripoint’s success is based on its continuous pursuit of excellence, pride in ownership, a hands-on approach to each phase of the redevelopment process and its willingness to spend quality time in the community where it’s working. This concentrated effort allows Tripoint to overcome the unique challenges of redeveloping obsolete buildings and produces the dramatic visual and functional transformation of each property’s interior and exterior that is desired by tenants in the local market.”

The Tripoint buy amounts to $152 per square foot; it was purchased from Andrews Bridge Associates III and negotiated through SSH Real Estate, according to a report in Deals Defining the Skyline.

 

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