BET Investments Buys Prudential Insurance’s Upper Dublin Property for $30.25M

Image via Google Maps.

BET Investments has finalized its purchase of Prudential Insurance’s 90-acre campus in Upper Dublin for $30.25 million, writes Natalie Kostelni for the Philadelphia Business Journal.

The property at 2101 Welsh Road is visible from the Pennsylvania Turnpike. It has three interconnected office buildings and surface parking lots with 2,175 spaces. The buildings total 861,000 square feet.

BET Investments had put the site under contract in April.

The buildings were developed by Prudential between 1972 and 1986 and have served as the company’s Central Atlantic home office with hundreds of employees working from the site. The insurer will vacate the complex by the end of next year.

While the property is still occupied, BET Investments will take the time to devise a plan for the property, according to Michael Markman, president of the real estate company.

The land is adjacent to other properties owned by BET Investments, including a 225,000-square-foot office building at 200 Dryden Road as well as the Promenade at Upper Dublin.

Read more about the purchase in the Philadelphia Business Journal.