National + Pennsylvania + Net Lease | June 21, 2021

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.

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Inside The Story

CBRE’s Marzullo

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).