14B — January 2023 — Pennsylvania — M id A tlantic Real Estate Journal
www.marej.com
P ennsylvania
EXFORD, PA — Cushman & Wakefield an- Sale of vacant bank building achieves $197 PSF Sell of Cushman & Wakefield represents First Commonwealth Bank in Wexford office bldg. sale W
$197 psf, the largest price per s/f for a vacant office property in Wexford. “First Commonwealth’s for- mer Wexford office offered a great, central location in an af- fluent Pittsburgh suburb,” said Sell, a director in Cushman & Wakefield’s Capital Markets group. “Prospective investors were intrigued by the qual- ity of the existing building, its flexible options and the quality of the surrounding area, all of which drove a competitive bid- ding process.” Located 1001 Village Run Rd. in Wexford’s primary medical
and retail corridor, the building totals 22,350 s/f and was de- veloped in 2000. The property includes an in-place drive-thru and new HVAC, roof and LED lighting. First Commonwealth Bank has since built a new retail branch on Rte. 19 at 12449 Perry Highway in Wexford to best serve the community’s personal and business banking customers. MAREJ SCOPE arranges $9.7M sale and financing of new construction mixed-use asset
nounced that the firm has represented First Com- monwealth Bank in its $4.4 million sale of the bank’s former Wexford of- fice building.
Michael Sell
Michael Sell, CCIM , repre- sented First Commonwealth in the transaction with an undis- closed buyer. The sale achieved
1001 Village Run Rd.
Luxury Group Auctions A Division of Williams & Williams Worldwide Real Estate Auction
Oxford Flats
PHILADELPHIA, PA — Scope Commercial Real Es - tate Services, LLC (SCOPE) , has announced the sale and ac- quisition financing for Oxford Flats, a six-story, mixed-use asset located in the Olde Kens- ington neighborhood of Phila- delphia, PA. The property sold for $9,705,000, which equates to $323,500 per unit, inclusive of small format commercial. SCOPE marketed the prop- erty on behalf of the seller, Oxford HD LLC, sourced the buyer, Oxford Flats Manor Residential LP, and placed the financing with a NJ bank. The seller, an out-of-market investment group, had devel- oped, and begun stabilizing the property at the time of en- gaging in the sale. The buyer, an out-of-state syndicate and property management com- pany, worked closely with the deal party to get the property occupied. Managing director, Phil Sharrow , led the transaction on behalf of SCOPE and the respective deal party. Edward Brown , senior director with SCOPE Capital Group, secured $7.25M in acquisition financing. The loan was structured with a seven-year term at a rate of 4.5 percent. MAREJ
Custom Home on 6.43 +/- ac Near Multiple Ski Resorts!
View 1-4pm Sunday February 5 & 19
SOMERSET, PA • 1044 Tabletop Drive
Your dream home awaits atop 6+/- partially wooded acres in the beautiful Laurel Highlands one hour from Pittsburgh and minutes from three Vail Resorts ski areas, state parks, and the Great Allegheny Bike Passage! Start living the adventurous outdoor lifestyle in a secluded custom- built 4BR, 3.5BA bath timber frame retreat with 3,900+/-sf finished space on the main level and finished room over the 3-car garage with room to grow in the partially finished 2,300+/-sf basement.
Many items including furniture, appliances, and maintenance machines/equipment will convey.See web for details!
Auctions 10am Wed February 22 on site
Prefer Not to Wait for the Auction? Submit a Pre-Auction Offer!
800.801.8003 • luxurygroup auctions .com/Somerset
PA BROKER: RESORTS RENTAL, INC. LIC NO. RB060982C. HAROLD SCOTT SWANK, LIC NO. RM062375A. AUCTIONEER: MONTE LOWDERMAN AUCTIONEER LICENSE AU005417 5% BUYER’S PREMIUM.
Made with FlippingBook interactive PDF creator