News: Brokerage

Dayan of TrueStone purchases office building for $36.3 million

Malvern, PA TrueStone announced today the purchase of 45 Liberty - a 137,178 s/f class-A trophy office building. The 3-story building, built in 1999 and fully renovated in 2020, is located at the Great Valley Corporate Center.

Sol Dayan

The purchase was done in partnership with the FLD Group and was completed in December 2021 for a total of $36.3 million. This is the group’s first acquisition since their rebranding to Truestone in October 2021.

Truestone’s managing partner, Sol Dayan, said, “Our mission is to attract, assess, select and invest in real estate opportunities like 45 Liberty blvd. This acquisition is one more step in our commitment to democratizing real estate investment and providing our partners with the opportunity to achieve financial stability through real estate assets. We are very excited about the upcoming opportunities and investments."

The building was purchased at an attractive 95% occupancy rate with anchor tenants Microsoft and Vanguard occupying the vast majority of the space.

The acquisition was made through Truestone’s subsidiary “Liberty Stars LLC”.

For additional information about Truestone please visit: www.truestonegroup.com For additional information about this deal please contact Sol Dayan at +1 212 207 0042 or [email protected]

READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
AI comes to public relations, but be cautious, experts say - by Harry Zlokower

AI comes to public relations, but be cautious, experts say - by Harry Zlokower

Last month Bisnow scheduled the New York AI & Technology cocktail event on commercial real estate, moderated by Tal Kerret, president, Silverstein Properties, and including tech officers from Rudin Management, Silverstein Properties, structural engineering company Thornton Tomasetti and the founder of Overlay Capital Build,
Strategic pause - by Shallini Mehra and Chirag Doshi

Strategic pause - by Shallini Mehra and Chirag Doshi

Many investors are in a period of strategic pause as New York City’s mayoral race approaches. A major inflection point came with the Democratic primary victory of Zohran Mamdani, a staunch tenant advocate, with a progressive housing platform which supports rent freezes for rent
Lasting effects of eminent domain on commercial development - by Sebastian Jablonski

Lasting effects of eminent domain on commercial development - by Sebastian Jablonski

The state has the authority to seize all or part of privately owned commercial real estate for public use by the power of eminent domain. Although the state is constitutionally required to provide just compensation to the property owner, it frequently fails to account
Behind the post: Why reels, stories, and shorts work for CRE (and how to use them) - by Kimberly Zar Bloorian

Behind the post: Why reels, stories, and shorts work for CRE (and how to use them) - by Kimberly Zar Bloorian

Let’s be real: if you’re still only posting photos of properties, you’re missing out. Reels, Stories, and Shorts are where attention lives, and in commercial real estate, attention is currency.