The former campus of Safeguard Scientifics in Wayne has been acquired by an affiliate of Maguire Hayden Real Estate for $20.2 million, writes Natalie Kostelni for the Philadelphia Business Journal.

The 150,000-square-foot, eight-building complex at 435 Devon Park Drive was 82 percent occupied at the time of the sale. The new owner has already brought this figure up to 85 percent, with more leases in the pipeline.

This is not Maguire Hayden’s first foray in the area, as it has already bought other nearby properties.

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“We love that location,” said Tony Hayden Jr. of Hayden Real Estate Investments. “It’s on the Tredyffrin side, and it has a lot of tenants who want to be close to Wayne but not pay higher rents.”

Hayden pointed out that, unlike Upper Merion, Tredyffrin has no employee wage or business privilege tax, making rent more affordable. He also added that there are no immediate plans to do a wholesale redevelopment of the property.

“The spirit of the deal is to maintain what it is now,” he said.

Read more about Maguire Hayden’s acquisition in the Philadelphia Business Journal here.

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