Overview
As exclusive agent Cushman & Wakefield’s National Industrial Advisory Group is pleased to offer a 100% fee interest in 500 Prosperity Drive. This 225,000 square foot, modern Class A industrial building is fully leased to Global Packaging, Inc. through April 2039. Located just three miles off US-422 in the King of Prussia submarket, the property sits squarely in the middle of the Philadelphia MSA and offers immediate connectivity to the region’s major highway arteries including the I-276/PA Turnpike, I-476, I-76, and Route 202. 500 Prosperity Drive represents a unique opportunity to acquire a modern Class A industrial building with a long-term sticky tenant in the highly desirable King of Prussia submarket at a basis below replacement costs.
Investment Highlights
RARE SEPA CLASS A BUILDING
- Built in 2019 with 100,000 SF expansion completed in 2024
- Only 16.8% of Buildings in SEPA are built after 2015
- Average building age of SEPA inventory is 43 years
STICKY TENANCY / LONG RANGE VALUE CREATION
- 100% absolute net lease to Global Packaging, Inc with 13.6 year WALT
- Below market rents (42% mark-to-market opportunity)
- Acquisition basis benchmarks favorable to current replacement costs
SEPA CORE LOCATION
- Premier King of Prussia infill location squarely in the middle of the Phila. MSA with immediate access to dense and affluent population base
- Immediate proximity to US Route 422, I-76, I-276 (PA Turnpike), I-476, and U.S. Route 202
- Efficient connectivity to Philadelphia, NYC, and Baltimore within 1-to-2-hour drive time
RESILIANT MARKET FUNDAMENTALS
- Southeastern PA saw 2.5M SF of leases signed at the end of Q1 2025
- Montgomery County saw 103% annual asking rent growth over the last 5 years
- Limited supply pipeline with 0 SF under construction in the King of Prussia Submarket
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