Willowbrook Group Ltd sold the 248-unit Willowbrook Apartments multifamily property at 2070 Mill Rd in Norristown, PA, to Home Properties.
The 367,320-square-foot Class B property was built in 1972 and consists of eight two-story buildings. The complex includes 112 one- bedroom, 112 two-bedroom and 24 three-bedroom units. The new owner plans to renovate the property within three years.
www.omegare.com
Thursday, August 28, 2014
Tuesday, August 26, 2014
Monday, August 25, 2014
Brandywine Coach Works Breaks Ground on 7.451 Acres in Exton
The sale for build to suit of industrial land was negotiated at the corner of
Whitford and Clover Mill Roads in Exton for $500,000.
The Buyer is BCW Properties, LLC of Chadds Ford, PA. The Sellers is Highmount Investments, LP.
Brandywine Coach Works currently leases a facility on Whitford Road close by to this new site. The opportunity to purchase this property and expand their presence in this location was the reason for their decision to purchase this property along with the demand from consumers looking to have high quality auto body workmanship on their vehicles.
D. Fickler Construction, LLC of Downingtown, PA is the general contractor and Bernardon
Haber Holloway are the architects who are designing and developing this site for the Buyer.
Plans for the site include a 20,000 +/- SF modern auto body repair center.
Zoned I-2, General Industrial District in West Whiteland Township, this property is located
in the rapidly developing market area along Route 30 and the Route 30 Bypass.
www.omegare.com
Whitford and Clover Mill Roads in Exton for $500,000.
The Buyer is BCW Properties, LLC of Chadds Ford, PA. The Sellers is Highmount Investments, LP.
Brandywine Coach Works currently leases a facility on Whitford Road close by to this new site. The opportunity to purchase this property and expand their presence in this location was the reason for their decision to purchase this property along with the demand from consumers looking to have high quality auto body workmanship on their vehicles.
D. Fickler Construction, LLC of Downingtown, PA is the general contractor and Bernardon
Haber Holloway are the architects who are designing and developing this site for the Buyer.
Plans for the site include a 20,000 +/- SF modern auto body repair center.
Zoned I-2, General Industrial District in West Whiteland Township, this property is located
in the rapidly developing market area along Route 30 and the Route 30 Bypass.
Advanced Auto Parts Signs 10 Yr Lease in Doylestown
Advanced Auto Parts opened at Bailey’s Square on August 14th. This is a newly constructed retail shopping center development located at the traffic-lit intersection of Swamp Road (Route 313) and Ferry Road in the Doylestown, PA.
Advance Stores Company, Incorporated (Advance Auto Parts), which opened on August 14th, signed a 10 year lease valued at $1.4 million dollars for 7,000 sq. ft. of retail space at Bailey’s Square, where it occupies the anchor position and is the first tenant to open for business. Richard Soloff of SRD represented Bailey’s Square LLC in this leasing transaction, and Drexel Realty Group, Inc. represented the Tenant.
Advance Auto Parts, which is headquartered in Roanoke, Virgina, operates 5,276 stores under the Advance Auto brand across 49 states, Puerto Rico and Canada. The company is the largest provider of aftermarket automotive parts for the enthusiastic layperson, professional mechanics and installers.
Newark's Main Street, The Hottest Submarket in DE
In recent months several sale and lease transactions
have taken place in Newark, Delaware’s Main Street area – the hottest submarket
in Delaware.
Main Street has always been a hot spot for
retailers, as it is set in the heart of the 21,000-student University of
Delaware campus. The food industry is the common factor in these deals. Demographics
in the Main Street area show that food and alcohol consumer spending totals are
upwards of $25 million per year in a one-mile radius, and close to $160 million
per year in a three-mile radius.
Recent Main Street Transactions include:
- Insomnia Cookies leased 1,200 +/- SF space at 74 E
Main Street. The tenant is a Pennsylvania based, round-the-clock dessert
company.
- Hakuna Hospitality Group leased 4,100 +/- SF lease
transaction at 76 E Main Stree. The landlord was Fratelli Enterprises, Inc. The
tenant, doing business as Del Pez Sea Mex, brings a seafood flare to Main
Street as it focuses on coastal-inspired Mexican cuisine.
- Main Street Burritos LLC, signed a ten-year
lease of a 2100 +/-SF space at 127 E Main Street. The company, publically known
as El Diablo Burritos, is Wilmington based and currently operates at locations
in Wilmington’s Trolley Square and North Wilmington’s Branmar Plaza. The
decision to expand in the appropriately related market stems from the company’s
current success and the growing popularity of Mexican fast-casual restaurants.
- A block away was the sale at 115 East Main Street,
for $1.35 million for 3,400 +/- SF commercial condominium unit. The buyer,
Mainline Enterprises, LLC purchased the property from LGLB, Inc. in a
sale-leaseback investment opportunity, which settled in May 2014. The condo
unit houses a restaurant currently doing business as 16 Mile Taphouse. The
restaurant is a partner to Georgetown’s 16 Mile Brewing Company and boasts an
impressive ensemble of craft beers and award-winning wines.
- Most recently, Colorful Yun Nan, Inc., signed a ten-year
lease of a 2,911 +/- SF space at 59 East Main Street. The space will be used as
an Asian style restaurant.
Thursday, August 21, 2014
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