S hopping C enters P ennsylvania F eaturing S outheastern PA
M id A tlantic Real Estate Journal — Pennsylvania — July 22 - August 18, 2022 — 15B
www.marej.com
ORTHEAST PHIL- ADELPHIA, PA — In the multifamily- N Holmesburg, PA offers connectivity to immediate-neighborhood & Center City lifestyle amenities Gebroe-Hammer’s Rosen marks $93.1M in NE Phila. sales at midyear with trade of Stradford Arms
connectivity to immediate- neighborhood and downtown destinations for world-class shopping and dining and his- toric, cultural, sports and recreational venues. Rounding out the region’s major roadways are U.S. 1/Roo- sevelt Blvd., I-95/Delaware Ex- pressway, I-276 and 295; and PA 309 and 611. SEPTA also operates numerous bus and rail transit links to Center City as well as South Jersey and the entire Northeast Corridor. According to Reis, pre-1970s apartment product accounts for nearly half of the multi- family inventory in Northeast Philadelphia and has been recording solid occupancy levels of about 98 percent. “As a result of this performance and potential, investors are seeking to expand their mul- tifamily holdings with proper- ties capable of elevating their class category and competing for the area’s growing com- muter-dominated executive/ manager/young-professional tenant base,” Rosen explained.
Since 2018, Rosen has recorded a total of 24 deals in Northeast Philadelphia encompassing 2,500+ units. Collectively, these sales total in excess of $323.07M. No- table highlights throughout the submarket include the Revere Portfolio (555 units), Winchester Walk (318 units), Oxford House (207 units), Park Terrace (183 units), Canterbury Apartments (173 units), St. Laurent Apart- ments (155 units), Somerton Court (150 units) and Algon Flats (120 units). For the past 17 years, Rosen has spearheaded Gebroe-Ham- mer Associates’ ever-expand- ing multifamily sales activity in the Greater Philadelphia Metro – a market that consis- tently ranks among the high- est in the Northeast in terms of multifamily sales. As the firm’s leading multifamily market specialist for Philadelphia, he represents client interests within Philadelphia proper as well as Delaware, Montgomery and Bucks counties. MAREJ
trading hotbed of Northeast Philadelphia, Gebroe-Ham- mer Associates has ar- ranged the sale of Stradford Arms Apartments, a 44-unit garden-style apartment- home community in the his- toric Holmesburg section, for an undisclosed price. Senior vice president Eli Rosen represented the seller, Strad- ford Arms Apartments, and procured the buyer, Strad- ford Arms Owner, LLC, in the transaction. Located at 4015-4021 Blakiston St., which is at the lower apex of a neighborhood “triangle” that includes Win- chester Park, Torresdale and Holmesburg, the two-building Stradford Arms features all one-bedroom layouts, on-site parking and on-premises laun- dry centers. Recent exterior enhancements include roof replacements, pointing and installation of new boilers. “The well-maintained
Stradford Arms Apartments
the average per-unit sale price has been $186,000. “Because of its excellent location in the scenic Penny- pack Creek Valley, Northeast Philadelphia as a whole has enduring appeal among the area’s young-professional and executive-caliber tenant co- hort,” said Rosen. Offering excellent transit access to Center City, just 12 miles away, Northeast Phila- delphia’s tree-lined suburban lifestyle is favored for its
Stradford Arms reflects pride in ownership and, as a result, is poised for favorable reposi- tioning rooted in a kitchen/ bath enhancement strategy,” said Rosen, who noted Strad- ford Arms sold at a sub-4 per- cent cap rate and was owned by the original developer’s family since 1962. Since January, the firm’s Philadelphia market specialist has closed five deals in North- east Philadelphia totaling 500 units for $93.1M Combined,
Daniel Berger, CCIM, SIOR & Daniel Berger, Jr., CCIM of U.S. Commercial Realty ink +104,770 s/f industrial building in Lancaster
Development. The purchase price was $1.325 million. The seller was represented by Scott Bradbury and Michael Wagner, CCIM of U.S. Com- mercial Realty and the buyer was represented by Daniel Berger, CCIM, SIOR and Dan- iel Berger, Jr., CCIM of U.S. Commercial Realty. Hoss’s Restaurant Opera- tions, Inc. sold a + 9,376 s/f commercial building located at 206 Pottsville St., Potts- ville, to an undisclosed buyer. The purchase price was $1.3 million. The buyer was repre- sented by Bradley Mullen of RealtyMark Associates and the seller was represented by Daniel Berger, CCIM, SIOR and Daniel Berger, Jr., CCIM. Hoss’s Restaurant Opera- tions, Inc. sold a + 9,735 s/f commercial building located at 2432 Route 257, Cranberry, PA 16319, to an undisclosed
buyer. The purchase price was $1.5 million. The seller was represented by Daniel Berger, CCIM, SIOR and Daniel Berg- er, Jr., CCIM. Hoss’s Restaurant Opera- tions, Inc. sold a + 10,512 s/f commercial building located at 4813 William Penn Highway, Murrysville to an undisclosed buyer. The purchase price was $1.9 million. The seller was represented by Daniel Berger, CCIM, SIOR and Daniel Berg- er, Jr., CCIM. SWS Investments, LLC sold a + 1.5 acre pad site located at 790 E. Main St., Ephra- tato Mavis Tire Supply, LLC. The purchase price was $1.5 million. The buyer was repre- sented by Adam Hagerman of Bennett Williams Com- mercial and the seller was represented by Daniel Berger, CCIM, SIOR and Daniel Berg- er, Jr., CCIM. MAREJ
LANCASTER, PA — U.S. Commercial Realty, Inc. has recently arranged the follow- ing sales and leases: An undis-
closed own- er sold a + 104,770 s/f industrial building situ- ated on + 7.87 acres located at 1103 Ranck Mill Rd., Lan- caster to an undisclosed buyer. The purchase price was $6.85 mil- lion. The buy- er was repre- sented by Jus-
Daniel Berger
1103 Ranck Mill Rd., Lancaster
Daniel Berger, Jr., CCIM of U.S. Commercial Realty Inc. An undisclosed owner sold a + 59,277 s/f commercial/retail building located at 1278 S. Market St., Elizabethtown, to an undisclosed buyer. The pur- chase price was $11.4 million. The buyer was represented by Dwight E. Wagner, CCIM
and Michael D. Wagner, CCIM and the seller was represented by Daniel Berger, CCIM, SIOR and Daniel Berg- er, Jr., CCIM. Lancaster County Solid Waste Management Authority sold a + 12.98 acre industrial site located at 425 S. Muddy Creek Rd., Denver to Catalyst
Daniel Berger, Jr.
tin Geisenberger of Sable Commercial Realty and the seller was represented by Dan- iel Berger, CCIM, SIOR and
Made with FlippingBook - professional solution for displaying marketing and sales documents online