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1 Progress Dr

79,204 SF 40% Leased Office Building Horsham, PA 19044 For Sale

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Executive Summary

The Investment Sales team of Avison Young presents qualified investors with the opportunity to purchase One Progress Drive in Horsham, PA. The property consists of a 79,204-square-foot office building situated on 11.63 acres, zoned I-1 – Industrial District, allowing for long-term redevelopment potential into a +/-100,000 square foot industrial building.
One Progress Drive is strategically located just off Horsham Road, only 1.8 miles from Route 611 and 2.8 miles from the Willow Grove Interchange of the Pennsylvania Turnpike. Ideally situated for long-term industrial use, this location provides easy access to the Philadelphia, New York, and Washington D.C. metro areas.
Originally built in 1988, One Progress Drive is currently 43.8% leased to two tenants. With last lease expiration coming in January 31, 2029, One Progress Drive is cash flow neutral through the end of the current tenants’ lease terms, generating approximately $1.8 million in gross income during this period.

Property Facts

Sale Type

Investment

Property Type

Office

Building Size

79,204 SF

Building Class

Year Built

1988

Percent Leased

40%

Tenancy

Multiple

Building Height

2 Stories

Typical Floor Size

40,043 SF

Building FAR

0.16

Lot Size

11.63 AC

Zoning

I-1 - light industrial district

Parking

401 Spaces (5.06 Spaces per 1,000 SF Leased)

Amenities

Energy Star Labeled

Space Availability

1st Fl-Ste 100
31,400 SF
Office
Full Build-Out
Now

Located at 1 Progress Dr in Horsham, PA, this expansive first-floor office space offers 31,400 SF of prime leasing opportunity in a vibrant business community.

2nd Fl-Ste A
15,828 SF
Office
Full Build-Out
Now

Located at 1 Progress Dr in Horsham, PA, this spacious 15,828 SF second-floor office suite is now available for lease in a thriving business community.