Jefferson University Physicians Expands By 6,790 Square Feet

BALA CYNWYD, PA — The Keystone Property Group has approved a lease expansion for a Bala Cynwyd's Jefferson University Physicians.

Keystone Property Group, a leading real estate developer, manager and investor of mixed-use properties, announced that it has signed lease expansions with existing tenants at four of its mixed-use office buildings in the Philadelphia area.

Among those is Jefferson University Physicians in Bala Cynwyd.

Jefferson University Physicians, a Pennsylvania non-profit corporation, will expand its current space at 225 E. City Ave. by 6,790 square feet.

Its new space is 10,574 square feet - roughly three times its initial size. Savills Inc. represented Jefferson University Physicians in the transaction. Keystone was represented by Colliers International.

The location provides excellent access to Interstate 76/Schuylkill Expressway, the SEPTA R6 regional rail line (Manayunk/Norristown) and SEPTA bus routes that service the City Avenue corridor.

In 2008, the property was renovated, and retail space was created to capitalize on the building’s prime location.

It features Katz's Deli and Main Line Health Food on site, with a number of restaurants within walking distance of the property including Chili’s Grill & Bar, Sardi’s Pollo A La Brasa and Corner Bakery Cafe.

The expansions, totaling more than 21,000 square feet, occurred at Valley Forge Office Center in Wayne; VEVA 17 in Blue Bell; Rosetree 2 in Media; and Valley Forge Office Center in Wayne.

Many of the buildings have undergone significant renovations and value-add reinvestment campaigns to improve the tenant experience and overall appeal.

"We are very proud to announce that four of our existing tenants are expanding within the mixed-use office destinations here in Pennsylvania," said Rich Gottlieb, Keystone’s President and COO. "Our relationships with our tenants is our main priority, which is why we develop and design our properties specifically to foster creativity, collaboration and efficiency. Our goal is always to provide them with environments that will allow them to thrive and succeed, and we are extremely excited to continue their growth here in our buildings."