The Spring Mill Corporate Center was recently sold by Kalmon Dolgin Affiliates Inc. to Alliance HSP for $80 million. The former Lee Tire complex is 500,000 square feet and was bought by Kalmon Dolgin Affiliates in 2006 for $61 million.
According to a report in the Philadelphia Business Journal, the new owners plan to spend $10 million on renovations, including a rooftop deck.
There are currently three items of note within the complex that were never completed. The first was the former space where Conshohocken Health & Fitness was located for several years before relocating to inside the main building. This was to be a new office building, but remains unbuilt.
Second is the former Seventh Heaven space. That building was purchased by Kalmon Dolgin Affiliates in recent years and knocked down. It was announced that a building with ground floor office/retail and apartments above was planned for that space.
There was also a plan to build a parking garage on the property that remains not built.
We will try to find out the answers to the three items.
More to come.