The two-building office complex in Malvern that is home to the North American headquarters of Saint-Gobain and its CertainTeed subsidiary has been put on the market, writes Natalie Kostelni for the Philadelphia Business Journal.

This 321,226-square-foot complex was last bought by a joint venture between 90 North Real Estate Partners of London and Arzan Wealth of Dubai in February 2016 for $123 million.

Now, the complex has hit the market at a time when many office buildings that were previously up for sale before the pandemic are being taken off the market. Also, most landlords who own buildings occupied by multiple tenants have decided to hold off on any transactions due to the uncertain times, unpredictable rents, tenant downsizing, and no new leases being signed.

Meanwhile, there is currently a growing demand for office properties that are fully occupied by one tenant on a long-term basis.

“There’s tremendous demand for low-volatility, net-leased corporate assets,” said Robert Fahey, an investment broker with CBRE who is marketing the property. “Here, you have a huge international brand with 10-plus years left on the lease.”

Read more about the office complex in the Philadelphia Business Journal here.

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