Flight to quality, amenities draw tenants to revitalized portfolio in key commercial corridor

Philadelphia, PA – David Fahey, Principal and Managing Director of Avison Young’s Philadelphia office, today announced that the firm has arranged 225,000 square feet of commercial flex, life science, and office leases in the Lehigh Valley on behalf of private equity real estate investment firm Brookwood Financial Partners, LLC (Brookwood). The 17 new leases are all in Iron Run Corporate Center, Brookwood's 10-building, 650,000-quare-foot portfolio at the intersection of I-78/US 22 and Pennsylvania Route 100 just west of Allentown.

The leasing team of David Smith, Vice President, and Paul French, Principal, who are based in the Philadelphia office, represented Brookwood in the leases.

"A flight to quality is accelerating in the Lehigh Valley as employers upgrade to properties offering attractive environments and amenities that will help motivate office workers returning to the workplace," Smith said. "We've shown companies how Iron Run Corporate Center meets and exceeds that need with its refined finishes, onsite management and access to the project's eateries, gym and other high-end features. That message helped us surpass 225,000 square feet in leasing and it remains a central part of our strategy."

Brookwood’s Vice President of Asset Management, Joe McMullan, commented “The recent leasing activity within our Lehigh Valley Portfolio demonstrates demand for Class-A Commercial Flex, Life Science, and Office product. We are committed to completing our unique value-add strategy throughout Iron Run Corporate Center, while offering the market appropriate supply.”

Brookwood recently invested more than $1 million dollars to construct turn-key office speculative suites ranging between 2,000 – 5,000 square-feet, an outdoor patio amenity space, and an interior lobby renovation of 7535 Windsor Drive, the portfolio’s flagship address. The four-story, Class A office building measures 132,285 square-feet and includes a full-service cafeteria. Other amenities within the portfolio include a café, fitness center with showers, and a 100-person multimedia room.

“Brookwood is the only institutional landlord in the area, and that has been an important factor in marketing the complex for lease,” French said. “Tenants value a well-capitalized and responsive landlord," he said.

Iron Run Corporate Center is within minutes of the Lehigh Valley exit of the Northeast Extension of the Pennsylvania Turnpike, 10 minutes from Allentown, 90 minutes from Philadelphia and 90 minutes from New York City. Buildings in the project include:

• 7535 Windsor, 132,285 square feet– Space Available
• 7450 Tilghman, 100,521 square feet – Space Available
• 7350 Tilghman St., 112,731 square feet – Space Available
• 7310 Tilghman St., 40,000 square feet – Fully Leased
• 7248 Tilghman St., 43,782 square feet – Space Available
• 7150 Windsor Drive, 49,420 square feet – Fully Leased
• 7010 Snowdrift Road, 33,029 square feet – Fully Leased
• 6990 Snowdrift Building A, 44,200 square feet – Fully Leased
• 6990 Snowdrift Building B, 27,900 square feet – Fully Leased
• 6575 Snowdrift Road, 47,091 square feet – Fully Leased