February 23, 2016

1100 First Ave. Sells, Potential for Mixed-Use Project

Source: Philadelphia Inquirer Jacob Adelman

Valley Forge businessman Vincent Piazza has purchased a King of Prussia office building on an 18-acre site that may be further developed with housing and offices, commercial real estate services firm Newmark Grubb Knight Frank said in a release Monday.

Piazza purchased the parcel at 1100 First Ave. from Devon Health Services, which has its headquarters there, said NGKF, which is marketing the space to potential tenants.

Plans for the property include managing the existing building and exploring the development of a mixed-use project that could include professional or medical offices, homes, shopping and a hotel.

Piazza asked that the purchase price be withheld, NGKF spokeswoman Marlene Sahms said.

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