On February 15, 2007, Lot 24 Wright’s Lane, LP purchased Lot 24 Wright’s Lane, West Goshen, PA located in Chester County.

The lot is located in the Brandywine Business Park. This property is a 4.2-acre parcel located at the corner of Airport Road and Wright’s Lane in West Goshen Township, Chester County Pennsylvania. The slightly elevated and gently sloping site overlooks the spectacular 115-acre West Chester Reservoir. The site is within one mile of the Goshen Corporate Park. These corporate parks are home to companies such as Ingersoll Rand, QVC, Synthes, CTDI and Cephalon. Downtown West Chester is less then four miles from the property. Restaurants and shopping Centers are plentiful. Within one mile of the site is 1302 Goshen Parkway.

The project is known as “The Reservoir Offices at Wright’s Lane”. This will be an office condominium development. We have obtained approval to build three buildings on the site. Total Square Footage to be built is 34,389. Our intention is to construct only the building shells. Building One is approved for 8,326 square feet. Building Two is approved for 15,799 square feet. Building Three is approved for 10,264 square feet. All of the buildings are designed so they can be sub-divided. Building three is going to be purchased by D. Howell Development Corp., LLC who is our development partner on this transaction. Construction of the buildings is on schedule. (View Construction Photos) We expect construction to be complete on this project by the end of the year.

Penguin Real Estate Investors, LP