300 Four Falls | West Conshohocken, PA

Built in 2003, 300 Four Falls is a 298,371 square-foot, seven-story office building constructed atop a six-story parking garage located in West Conshohocken, PA.  The property features over 400 feet of frontage along the Schuylkill Expressway and is situated within one-half mile of the Schuylkill Expressway and Interstate 476 interchange.

NAS assumed management responsibility for the financially stressed, Class-A property in February 2014.  Company executives immediately proceeded to execute an aggressive plan to increase revenue while optimizing operating expenses with cost-effective maintenance and strategically targeted and prudent capital expenditures.

In less than two years, occupancy of the property increased to 98% and NOI increased 16%, creating an enhanced market position for sale of the property.

Additional space leased in 2014 and 2015 totaled 27,559 square feet, just over 9% of the building’s leasable square footage.  The successful leasing effort resulted in filling space that had been vacant since 2005, when the office building was acquired by a group of 31 TIC investors.

Coinciding with the aggressive plan of action to increase marketability in the same two-year period, NAS and CBRE|Fameco, the new property management company, were successful in increasing renewals by improving tenant approval from extreme dissatisfaction, experienced under prior administration, to support of the management team.

READ NEWS STORY:   Greater Marketability Created for TIC Office Property