Sale of RedGo Complex a Go

Sale of RedGo Complex a Go

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Naamans Creek Center, a five-building office complex totaling 175,796 square feet in Upper Chichester, Pa., was sold for more than $21 million. 

RedGo Development of West Chester, Pa., sold the property to an undisclosed real-estate adviser from New England, according to Trammell Crow Co. (NYSE: TCC), which represented RedGo. 

Naamans Creek Center fronts Route 322 in Upper Chichester. RedGo was the original developer of the five buildings that were 97 percent leased up at the time of sale. Among the tenants are CentiMark, GE Capital, Martin-Baker, Philadelphia Newspapers Inc., NeighborCare, Novasep, Kyocera Mita, Halloween Adventure, Danco, Delaware Valley Surgical, Thomas Somerville and E&R Industrial. 

Trammell Crow said the property drew interest from institutional and private investors because of the high occupancy rate and the tenants. 

RedGo is a privately owned and managed developer of office, industrial, build-to-suit and residential communities in southeastern Pennsylvania. It has developed more than 2 million square feet of office and industrial properties and built more than 600 houses since its founding in 1969.

615 Willowbrook Ln, West Chester PA 19382 Phone: 610.436.6100 Fax: 610.436.1186