Prime King of Prussia Property

admin — Wed, 21 Dec 2011 19:30:59 +0000

(Reprint) Philadelphia Inquirer, The (PA)
March 5, 2004
Author: Sheila Dyan FOR THE INQUIRER

It stands in the middle of a shopping center off U.S. Route 202, two blocks from the Schuylkill Expressway, minutes from the Pennsylvania Turnpike, and across the street from the King of Prussia malls.

You might say Courtside Square Apartments and Suites embodies real estate’s three little watchwords: location, location, location.

“Location is definitely a big factor. I like the King of Prussia area,” said Stacy Mosko, 27, a recruiter for Pathfinders. “It’s close to where I work and convenient to the mall, where I shop a lot. That was definitely a big factor. “On Black Friday, I walked to the mall and didn’t have to worry about a parking space. And in addition to the mall itself are the restaurants.”

Surrounded by commercial properties such as Pier One Imports, Bally’s Total Fitness, America’s Best Optical, and Citizens Bank, the five-story brick building was constructed in the mid-1960s, and was under the same ownership from the late ’60s until the late ’80s, when Willner Properties Services Inc. purchased it.

Willner began extensive renovations in late 2002, creating a new exterior facade; refurbishing the lobby and hallways with new lighting, carpeting, and wall treatments; upgrading the laundry room and elevators; and installing all new windows and terrace doors. In the spring, a new roof will be installed, and units are being upgraded with new kitchens and baths as they become available.

“I checked out a lot of apartments, and this seemed reasonable. Many in the area were more expensive,” said Mosko. “The apartments here are spacious and newer looking. I like the look of everything, and I love my balcony. I started in a one-bedroom in May 2002, and, after about a year, I moved to a two-bedroom. Also, maintenance has been very good, and they’re very, very friendly.”

The 74-apartment complex includes studio units (470 square feet) renting for $800, one-bedroom units (735 square feet) renting for $850, and two-bedroom units (895 square feet) renting for $950. Living rooms and bedrooms have wall air conditioners, most units have dishwashers, and all have balconies. Cats are permitted, for a fee, but dogs are not allowed. Short-term leases for fully furnished and equipped suites also are offered, with rents from $1,550 to $1,950.

“This is very convenient. . . . We’re located near everything. . . . We’re close to the stores, there are restaurants all around – one is right in the building – and my commute to work is easy,” said Pavel Chernak, 27, a project manager at Vanguard. Chernak lived in the building for two years while he was in high school and moved back in July. “The apartments had been renovated and were very nice. They’re spacious and priced reasonably for the area,” he said. “Management has been very good, very responsive. I have no complaints at all. And I think it’s important that they’re always there,” he said, referring to the on-site management office.

Courtside Square

admin — Wed, 21 Dec 2011 19:29:07 +0000

(Reprint) Philadelphia Business Journal
July 31, 2009

DeVry University is relocating to King of Prussia from space in Chesterbrook Corporate Center in Wayne, and nearly doubling its size.

The school, which is operated by DeVry Inc., leased roughly 13,000 square feet at Courtside Square, which is a mixed-use complex at 150 Allendale Road.

The school had been in about 7,400 square feet at 701 Lee Road. The move gives the school increased access to transportation, such as bus lines, and better exposure, said Steve Cousart, a broker with CB Richard Ellis who represented DeVry in the transaction.

The lease brings Courtside Square up to 90 percent full, said Michael Willner, president of Willner Properties, which owns the building that sits across from the King of Prussia Mall. “This is a big lease for us,” Willner said. Other tenants in the complex include E*Trade Financial, Melting Pot, Verizon Wireless and Fidelity investments.