Real Estate Journal — Pennsylvania — July 12 - 25, 2019 — 3C
M id A tlantic
Sternberg, Lashner and Licht represent seller NAI Mertz completes sale of 7,140 s/f mixed-use property in Bensalem
UCKS COUNTY, PA — NAI Mertz , a full- service commercial real estate firm conduct- ing business throughout the United States, and globally, from its regional offices in New Jersey, greater Phila- delphia and northeastern Pennsylvania, announced the completion of the sale of a 7,140 s/f mixed-use property located at 984 Bristol Pike in Bensalem. The NAI Mertz team representing the seller, Medimpex Holdings, LLC, in- cluded Joe Sternberg , sales associate; Adam Lashner, SIOR , vice president; and Jeffrey Licht, SIOR , senior vice president. The sale price was $715,000. “I have been working with the property seller for more than three years on several aspects of this transaction, ultimately completing the sale to an investment buyer,” said Sternberg. “We formed a great relationship, and I am thrilled to have been able to bring the right buyer to this property,” he added. This property includes 7,140 s/f of mixed-use space— industrial, retail, and office— on heavily traveled Bristol B Marcus & Millichap b r o k e r s n e t - leased property in Huntingdon, PA HUNTINGDON, PA — Marcus & Millichap an- nounced the sale of Taco Bell, a 4,095 s/f net-leased property located in Huntingdon. The asset sold for $975,000. Der r i ck Dougher t y , first VP investments, Steve Garthwaite , associate, and Scott Woodard , senior asso- ciate in Marcus & Millichap’s Philadelphia office, had the listing to market the prop- erty on behalf of the seller, an individual/personal trust. The buyer, a limited liability company, was secured and represented by Dougherty and Woodard. “The property has frontage on William Penn Highway which is the main retail cor- ridor of the township,” said Woodard. “Combined with a strong location and an expe- rienced franchisee we believe that Taco Bell will continue to do well in this location for many years to come.” Taco bell is located at 9578 William Penn Highway.
Pike. The building offers convenient access to I-95, Rte. 1 and the Pennsylvania Tpke. Originally built in 1974, an addition to the property was constructed in 2007. The building features four drive-in doors, 13-foot ceiling heights, a fully air conditioned office space, warehouse and retail space and 24 paved parking spaces. Prior to completing the building sale, the NAI Mertz team completed three leases at the property bringing it to 100 percent occupancy. Current tenants include The Hannye Law Firm, Gina Ma-
ria’s Hair Studio and Sharpe & Associates, LLC, a distribu- tor of drug testing kits. Greg Shpungin, president of Medimpex Holdings, LLC, commented, “Beginning with his leasing assignment three years ago, Joe has been stead- fast in understanding my requirements. He identified three excellent tenants for the unique spaces at the property and assisted me in negotiating the leases. Once the building was fully leased, Joe diligently marketed the property for sale and he was successful in selling the build- ing at a good price.”
984 Bristol Pike
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