New Mountain Net Lease Picks Up Life Sciences Property in Philly Suburbs
New Mountain Net Lease Partners acquired a two-story life sciences facility in the Philadelphia suburb of Bristol, PA from a private investor for an undisclosed sum. The two-story, 50,000-square-foot property at 360 George Patterson Blvd. is fully occupied by Abzena, a leading global partnership research organization.
CBRE’s Stephen Marzullo and Adam Silverman, along with the CBRE life sciences consulting team of Robert Zwengler, Ken Zirk, Matthew Knowles and Anthony Hayes, represented the seller.
“Abzena recently executed an early lease extension through 2032 and completed a tenant-funded, multi-million-dollar project which converted space into two new suites for cGMP conjugate manufacturing,” said Marzullo. “Buyers were attracted to the opportunity due in part to the significant tenant investments which enhanced their range of contract biomanufacturing services.”
The property is well positioned near the base of the Burlington Bristol Bridge, less than three miles from the PA Turnpike and approximately two miles from I-95.