Haverford acquired this 30,000 square foot office building in the platinum-demographic zip code of Haverford, Pennsylvania, just outside Philadelphia in 2018. Occupancy was severely impacted by the COVID-19 pandemic, when the previous anchor tenant who occupied 56% of the building went out of business.

Despite challenging market conditions driven by the pandemic, Haverford stabilized this asset within 12 months of losing its anchor tenant, achieving 97% occupancy with a diversified mix of credit-worthy tenants, including a 10-year lease for a full-size Starbucks with a drive-through. Haverford continued to invest in the building infrastructure throughout this challenging period, including significant improvements to HVAC and building automation systems.