Equus Capital Partners has purchased an office complex in Malvern for $70 million, writes Natalie Kostelni for the Philadelphia Business Journal.
The 300,000-square-foot complex at 1400 Atwater Drive has a pair of five-story buildings connected by a glass lobby.
Developed through a partnership between Trammel Crow Company and Chambers Street Properties, the building was designed to be the U.S. headquarters for Endo Pharmaceuticals. It originally cost $85 million to develop and includes a parking deck.
Less than a year after it was built, Endo decided that the property had more space than it needed and sub-leased half of it to Frontier Technologies and Vanguard Group. The other half is still used by Endo and has six years remaining on its lease.
Since the building was constructed, the area around it has seen a lot of development with new residential and retail projects. This has given it status as the front door to Great Valley.
Read more about 1400 Atwater Drive in the Philadelphia Business Journal here.