A Boston real estate company backed by DRA Advisors was behind the purchase of five buildings at the Oaklands Corporate Center in Exton with an eye toward making an entrée into Philadelphia’s life sciences scene. 

Griffith Properties Inc., which focuses on life sciences conversions, bought the buildings off Creamery Way totaling 260,691 square feet for $43 million. So far, the company has focused on its hometown but started looking for new opportunities where life sciences is thriving such as in Philadelphia, the I-270 Corridor in Maryland and the Research Triangle. Oaklands was its first purchase outside of Boston.

“We love Philadelphia,” said Marci Griffith Loeber, managing principal. “It has a great labor pool with its history with Big Pharma. That’s one of the big appeals. There’s also increased venture capital and NIH funding, which are great benchmarks.”

*Article courtesy of Philadelphia Business Journal

For more information about Philadelphia medical space for sale or lease or about any other Philadelphia properties for sale or lease, please contact WCRE at 215-799-6900.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Philadelphia medical commercial real estate broker that provides a full range of Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors, and sellers.

Please visit our websites for a full listing of Philadelphia commercial properties for lease or sale through our Philadelphia commercial real estate brokerage firm.