12C — September 15 - 28, 2017 — Pennsylvania — M id A tlantic
Real Estate Journal
www.marejournal.com
P ennsylvania Zang and Taylor had the listing to market the property on behalf of the seller First Royal Farms in the city of Philadelphia Trades Over $7 million
P
Marcus & Millichap’s Philadel- phia office, had the listing to market the property on behalf
HILADELPHIA, PA — Marcus & Millichap , a commercial real estate
of the seller, a local develop- er. The buyer was procured b y S t e v e Garthwaite, Mark Tay- lor, Derrick Dougherty a n d S c o t t
inves tment services firm with offices throughout the Uni t ed Stat es and Canada, an- nounced the sale of Roy- al Farms, a
Dean Zang
Mark Taylor
Woodard, investment special- ists in Marcus & Millichap’s Philadelphia, Wynnewood office. “This marks Royal Farm’s first location within the city of Philadelphia,” said Taylor. “The Maryland-based conve- nience store seeks out locations that are highly traveled, with larger parcel sizes to accom- pany eight to ten fueling pumps and a 5,000 s/f store.” Royal Farms is located at 2501 Church St. in Philadel- phia. The brand new 6,300 s/f store is set on 3.26 acres and features a convenience store, eight fueling pumps and a carwash. “C-Store operators invest a considerable amount of capi- tal in building improvements while maintaining long-term ground leases on the underly- ing land,” adds Garthwaite. “This lends the tenant the ability to depreciate the build- ing and improvements over time.” n Nick Aielo joins Avison Young in Philadelphia, PA Philadelphia, PA — Avison Young announced Nick Aileo has joined the Philadelphia firm as research coordinator. “We are excited to have Nick join the Avison Young research team,” said David Fa- hey, principal and managing director of the Avison Young Philadelphia office. “As a re- search coordinator, Nick will work collectively with other Avison Young research pro- fessionals to deliver market analysis and insights that will add value to real estate deci- sions by offering up-to-date, reliable market data for our current and potential clients.” Before Avison Young, Aileo completed three internships, including The Public Financial Management Group and Van- guard, where he concentrated in the areas of quantitative fi- nance and riskmanagement. n
6,300 s/f net-leased property located in Philadelphia. The asset sold for $7,256,637. Dean Zang and Mark Tay- lor , investment specialists in
Royal Farms
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