Commercial Real Estate Direct
By Orest Mandzy
May 23, 2025
More than 31,000 square feet of leases have been signed at the Westlakes office complex in the Philadelphia suburb of Berwyn, Pa., bringing the 447,546-square-foot property to 80% occupancy.
The four-building property, at 1000, 1055, 1205, and 1235 Westlakes Drive, is owned by Accesso, which had purchased it in 2021 for $135 million. At the time, it was roughly 90% occupied. But it lost a number of tenants.
Agreements it’s signed since the start of this year include renewals with LPL Financial, which expanded its footprint to roughly 9,000 sf under a new 10-year lease; Sequoia Financial; East Bay Merchants; JO Hambro Capital Management; and TCI Holding Co. Leasing is handled by JLL.
The property is along State Route 202 and near Interstate 76, Valley Forge National Historical Park, and the King of Prussia Mall. It’s next to the Chester Valley Trail, a 19-mile bicycling and hiking trail, much of which runs parallel to the route the Continental Army took before the Battle of Brandywine in 1777.