CBRE Capital Markets Arranges Sale Of Three Tower Bridge Office Building In Conshohocken, PA For $15.45M

7/8/17

CBRE Group, Inc. (CBRE) announced today that it has arranged for the sale of Three Tower Bridge, a 60,016 square-foot Class A single-tenant office building, located at 2 Ash Street in Conshohocken, Pennsylvania. The building was acquired by Gladstone Commercial Corporation for a sale price of $15.45 million. Three Tower Bridge is 100 percent leased to Jacobs Engineering Group, Inc., a fortune 500 company.

Robert Fahey, Jerry Kranzel and Erin Hannan of CBRE Capital Markets’ Institutional Properties teamrepresented the seller, an affiliate of Oliver Tyrone Pulver Corporation, during the negotiations.

Regarded as one of the premier office buildings in the Philadelphia suburbs, Three Tower Bridge’s preeminent riverfront location is within 500 yards of highways I-476 and I-76. Additionally, the property is next door to the Marriott Residence Inn and three blocks from downtown Conshohocken’s shops and restaurants.

About CBRE Group, Inc.

CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.us.

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