Newmark, on behalf of owner Alliance HP, has successfully secured 48,116 square feet of industrial leases at 1 Innovation Drive in Plymouth Meeting, Pennsylvania.
This leasing activity marks the arrival of the first two tenants to occupy the 143,000-square-foot building: Nevro Corp. and Donnelly’s Home Comfort Specialists. The transactions were facilitated by Newmark Executive Managing Director Jim Dugan along with Senior Managing Director Justin Bell and Managing Director Patrick Nowlan who serve as exclusive leasing agents for the property.
Alliance acquired 1 Innovation Drive with plans to convert it from an office building into a modern industrial/flex space. According to Matt Handel, Philadelphia Market Lead for Alliance HP , “This early success in securing tenants confirms our reimagined vision and strategy for this property as we aim to meet the high demand for top-quality flex space in this prime location within Montgomery County.”
Donnelly’s will be occupying a total area of 34,493 square feet consisting of both office and warehouse spaces which will serve as their new company headquarters and distribution center. Meanwhile,Nevro Corp., also signed a long-term lease agreement covering an area totaling13
