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Investor Purchases Leased Office Asset in King of Prussia, The Flynn Company Completes the Sale of 1021 West Eighth Avenue

Posted by FlynnCompany on January 20, 2021
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King of Prussia, PA, Jan. 2021 – The Flynn Company announced today that it has closed the sale of 1021 West Eighth Avenue, a recently leased office building totaling 49,112 square feet in the Greater Philadelphia community of King of Prussia, Pennsylvania on December 31st. The Flynn Company represented the seller, an affiliate of Walter ‘Wally’ Smerconish, and procured the buyer, Regal Acquisitions, from New York. The building is located in the heart of the affluent King of Prussia submarket. The asset has excellent visibility and immediate access to many of Greater Philadelphia’s primary roadways, including Routes 202 and 422, Interstate 476 and the Pennsylvania Turnpike. The property is surrounded by new exciting developments such as the luxury apartment centers of Park Square & Skye 750, a renovated Valley Forge Casino and Top Golf which is coming soon. The building is leased by one of the nation’s top defense contractors. The Flynn Company team representing the seller was led by Duke Gleeson and Kevin Flynn, Jr.

Main Street Group, Inc. (MSG) was founded in 1988 by Walter ‘Wally’ Smerconish. MSG is a diversified real estate development firm headquartered in Bucks County, Pennsylvania. On the residential side they have developed over 1,000 residential units of all types: single family homes, townhouses, condos and apartments. On the commercial side, MSG has developed more than a million square feet of office, hotel, restaurant and bank retail sites mostly in the greater Philadelphia market.

The seller in the transaction was represented by the law firm of Lurio & Associates, P.C., with Douglas M. Lurio leading the legal team.

Regal Acquisitions is a real estate investment firm born out of a family office with a deep history of ownership in New York City. The founders of our firm have decades of experience successfully owning and operating retail, hospitality, industrial, and office assets in Manhattan as well as the outer boroughs. As Regal Acquisitions enters a new chapter in its existence, the firm has expanded their focus to other major markets across the nation.

For more information on this deal please contact:

Duke Gleeson dgleeson@flynnco.com
Kevin Flynn, Jr. kflynnjr@flynnco.com

About The Flynn Company
Serving the Greater Philadelphia region since 1980, The Flynn Company engages in all phases of commercial real estate.  As one of the largest full-service real estate companies in the region, the firm offers clients a wide range of in-house capabilities including sales, leasing, accounting and property management, space design, construction and advisory services.  The Flynn Company is consistently ranked as one of the largest family-owned and veteran-owned companies in the Philadelphia region.

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