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REA
July 31, 2019  

Leasing Upside at Offices Near Phila.

Equus Capital is pitching a Class-A office complex in suburban Philadelphia that’s well-occupied, but at below-market rents.The 250,000-square-foot Bay Colony Executive Park, in Wayne, Pa., is expected to attract bids in the vicinity of $250/sf, or $63 million. Equus, a fund operator in Newtown Square, Pa., has given the listing to JLL.At the estimated value, the initial annual yield would approach 7.5%. But a buyer could boost its return...


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