Thursday, July 16, 2015

K-Mart Bensalem Trades for $3.575M

by Steve Lubetkin,
1837 Street Road, a 100,000-square foot property net-leased to Kmart in Bensalem, PA was sold for $3.6 million.

The asset sold for $3.575 million, $376,025 above the asking price, after a brief yet extremely competitive marketing period during which 12 offers were made within the first 24 hours.

Kmart has been located at 1837 Street Road since 1983.  Kmart recently exercised a five-year option on its lease because of strong sales at the location.

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