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Newmark Signs First Tenants at Revamped Flex Property
Newmark has secured 48,116 square feet of industrial leases on behalf of owner Alliance HP at 1 Innovation Drive in Plymouth Meeting, Pennsylvania.
The leasing activity brings the first two tenants to the 143,000-square-foot building, Nevro Corp. and Donnelly’s Home Comfort Specialists. Newmark Executive Managing Director Jim Dugan, Senior Managing Director Justin Bell and Managing Director Patrick Nowlan are the exclusive leasing agents at the property and facilitated the transactions.
Alliance acquired 1 Innovation Drive with plans to retrofit the existing office building into industrial/flex space. said Matt Handel, Alliance HP Philadelphia Market Lead. “This early leasing momentum validates our reimagined vision and strategy for the property as we aimed to capitalize on the significant demand for high-quality flex space in this premier location in Montgomery County.”
Donnelly’s will occupy 34,493 square feet of office and warehouse, marking the relocation and expansion of its company headquarters and distribution center. Nevro Corp. also secured a long-term lease and will occupy 13,623 square feet of operations and engineering space.
