JLL Capital Markets closes sale of Philadelphia-area specialty office property

PHILADELPHIA, Oct. 19, 2023 – JLL Capital Markets announced today that it has completed the sale of 1400 Union Meeting Road, a 199,532-square-foot, two-story office building in Blue Bell, Pennsylvania.

JLL represented the seller, Bridge Investment Group, and procured the buyer, a foreign private investor.

1400 Union Meeting is positioned on 18.6 acres in the heart of Montgomery County, just minutes from the three primary thoroughfares in the Philadelphia suburbs, Interstates 276 and 476, and Route 202. The area surrounding the property is highly amenitized with numerous high-end shopping and dining destinations, including the Plymouth Meeting Mall. Additionally, 1400 Union Meeting Rd. is close to the affluent executive neighborhoods of King of Prussia, Conshohocken and Center City.

Originally built in 1961, the property is a value-add opportunity zoned for scientific, agricultural or industrial research or development. The life sciences-enable property is now vacant and provides the buyer with many variations on how to reposition the property.

The JLL Capital Markets Investment Sales and Advisory team representing the seller was led by Senior Managing Director Brett Segal and Associate Matthew Blumberg.

"1400 Union Meeting provides our buyer with a blank slate with which to redevelop over 18 acres in one of the premier locations in the Philadelphia region,” Segal said. “The property’s history as a research and manufacturing facility provides a range of superior physical attributes that will enable a successful renovation.”

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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Bridge Investment Group is a leading, vertically integrated real estate investment manager, diversified across specialized asset classes. For more information, please visit: bridgeig.com.