Keystone Property Group Announces Purchase Of 101-acre Corporate Campus In Warrendale, Pa

Oct. 21, 2008 - PRLog -- Keystone Property Group is pleased to announce their acquisition of a 101-acre corporate campus in Alleghany County, PA. The 5-building 557,000 square foot complex, was purchased by Keystone from the telecommunications provider Ericsson. The purchase price for Ericsson Drive was $39.7 Million.

The buildings had originally opened in the 1990’s for the technology company Fore Systems Inc.  Upon purchase, the 5-building campus was 72% occupied. Cushman & Wakefield represented Ericsson in the transaction.

With a portfolio that includes properties in, Pennsylvania, New Jersey, Chicago, and Florida Keystone Property Group acquires office, flex, and industrial buildings in prime locations that are functionally obsolete or lacking in investment capital, and reinvents them. The results are Class A, 21st-century buildings offering modern amenities, cutting-edge technology, and aesthetic appeal. This “vision for value,” translates into seeing opportunity in older, well-located office or industrial buildings and then utilizing the company’s capital and expertise to recreate those assets and realize their potential.

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Keystone Property Group is a real estate investment and property development company with a unique ability to identify and capitalize on opportunity - the opportunity to create value through development, financing, leasing, property and asset management