An affiliate of Keystone Property Group has purchased the office building at 125 East Elm Street and Keystone Property Group is moving its corporate headquarters into the building. The company’s headquarters is currently in Bala Cynwyd. Keystone is the developer proposing to redevelop the area at West Elm and Fayette with a hotel, public square, restaurant, retail, parking and two office buildings. With the purchase of 125 East Elm, Keystone now owns three office buildings in the Borough of Conshohocken.

The property was formally an industrial space and was redeveloped by Shaffer Builders and opened in 2008. It received a 2010 Land Development Award from Montgomery County for “for its collaborative efforts, sustainable site strategies, and extensive public enhancements. This successful infill project revitalizes and enhances the connection between the borough’s downtown and the redeveloping riverfront”.