210 Welsh Pool Road
Lionville, PA

Tripoint Properties, Inc. acquired 210 Welsh Pool Road, Lionville in March of 2001. The intent was to redevelop and reposition the 44,000sf vacant warehouse building into a highly desirable office/flex property. The building was constructed in 1970 on 4.9 acres with 6,000sf of office space. Its owner had vacated it one year prior to the acquisition and the property needed a tremendous amount of maintenance as well as environmental remediation.

Tripoint Properties, Inc. was able to see that 210 Welsh Pool Road was strategically located in the Pickering Creek Industrial Park, near exit 23 of the Pennsylvania Turnpike with convenient north, south, east and west access provided by Routes 100, 113, 202, and 30. This area was at the heart of a large bio-technical/pharmaceutical industry expansion. Tripoint implemented an entrepreneurial redevelopment and renovation program that focused on upgrading, expanding, and changing the use and look of the building to an office/flex property. The redevelopment of the property was geared toward uses such as assemby, light manufacturing, R&D/labs, warehouse, or distribution.

Within three months of acquisition, a user was secured and the redevelopment effort began immediately. Within 9 months the tenant was fully occupying the building and just 12 months later the building was sold, providing an excellent IRR to the Tripoint Properties, Inc. investors and equity partner.