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Options few if Cardone backs out of move to Bala Cynwyd

Natalie Kostelni
Options few if Cardone backs out of move to Bala Cynwyd

A year ago, Cardone Industries signed a long-term lease — in excess of 10 years — to relocate its corporate offices and administrative functions from Northeast Philadelphia into a 53,920-square-foot building at 15 Kings Grant Way in Bala Cynwyd.  The location was selected for its convenience and the space would be newly fit out and modern. Lease signed and deal done, Keystone Property Group moved ahead with securing a $14.75 million loan for the redevelopment of the vacant office building and work to build out the space is underway and will continue until completed. Despite that, Cardone may not be moving into its new space after all. “It has been put on hold but not canceled,” said George Zauflik about the Bala Cynwyd move in an earlier interview with the Philadelphia Business Journal this week.