King of Prussia, PA - USLI HQ
$89,558,000
1190 Devon Park Dr, King of Prussia, PA 19087
250,185 sqft
Building Size
26 acres
Lot Area
Details:
Description:
• Recent 20-year lease extension United States Liability Insurance, Inc. (USLI) headquarters with AM Best A++ rating and wholly owned by Berkshire Hatheway .
• Located at a Class A, 250,185 SF campus purpose-built and fully occupied by USLI with premier employee amenities, including a full gym and basketball court, and historical occupancy for over 30 years
• Includes non-recourse Credit Tenant Lease (CTL) zero cash flow financing with rare additional cash flow and pay-down / re-advance allowing the buyer to pull up to 99% of the outstanding balloon balance in cash
• King of Prussia is a tax efficient, affluent suburb of Philadelphia with over $165k AHHI and is a premier live–work–play hub anchored by the 2.9 million SF King of Prussia Mall, a 450+ store super-regional center with ~98% occupancy and over $1 billion in annual sales
• The submarket is rapidly densifying including the new 125-acre mixed-use development Village at Valley Forge less than 1-mile from the site and delivering 2,900+ multifamily units and 500,000 SF of main-street retail, medical, and grocery uses
The property is strategically situated to support USLI’s operational requirements and reflects the company’s long-term commitment to its headquarters location. In 2010, the 1190 building was purpose-built by the then-landlord on behalf of USLI to accommodate the specific needs of a large, full-time, in-office workforce. The complex features a full indoor basketball court adaptable for pickleball, additional outdoor courts (pickleball and basketball), a fully equipped fitness center with onsite trainers, and a full-service café offering employees a subsidized breakfast, complimentary lunch, and a dinner to-go program. These amenities represent a deliberate investment in human capital infrastructure, purpose-designed to sustain USLI’s mandatory five-day, in-office operating model and underscoring USLI’s demonstrated commitment to the asset.
Location
Gallery
