Contributes to $19M in Lower Bucks County Sales in Last 12 Months
October 23, 2019 [Langhorne, PA] – Matthew Shanahan & Carl Neilson of Colliers International are pleased to announce the sale of One Summit Square – a landmark building just steps from the prestigious Newtown Borough in Langhorne, Pennsylvania.
The 67,219-square-foot four-story office building is located at 1717 Newtown Langhorne Road, the intersection of routes 413 & 332 (the Newtown Bypass). One Summit Square is leased by multiple quality tenants including Comcast, Ricoh, and US Congressman Brian Fitzpatrick. The buyer, a locally-based operator of quick-serve restaurants (QSRs), will occupy approximately 13,000 square feet, relocating its own headquarters to the property.
Colliers represented both the seller, Country Life Insurance Company and the buyer, an affiliate of Phoenix Nexus Enterprises, in the transaction.
With Matt Shanahan’s recent sale of Trumark Financial Credit Union’s former headquarters at 1000 Northbrook Drive and his sale of NCB’s headquarters at 1 Allied Drive, both located in Trevose, he has concluded approximately $19M in office sale transactions in Lower Bucks County within the last twelve months.
For further information, contact:
Matthew Shanahan, Senior Vice President +1 215 928 7560 | Matthew.Shanahan@colliers.com
Colliers International (NASDAQ, TSX: CIGI) is a leading global real estate services and investment management company. With operations in 68 countries, our 14,000 enterprising people work collaboratively to provide expert advice and services to maximize the value of property for real estate occupiers, owners and investors. For more than 20 years, our experienced leadership team, owning more than 40% of our equity, have delivered industry-leading investment returns for shareholders. In 2018, corporate revenues were $2.8 billion ($3.3 billion including affiliates), with more than $26 billion of assets under management.