M id A tlantic Real Estate Journal — Pennsylvania — March 13 - 26, 2020 — 19C
www.marej.com
P ennsylvania
The asset sold for $8,057,292 Dougherty & Krantz of Marcus & Millichap handles the sale of a 5,585 s/f Wawa in Collingdale C The asset sold for $8,057,292. The buyer, a limited liability company, was secured and
“The purchaser acquired a well-positioned property in a dense infill Delaware County submarket. Due to the high volume of activity, Wawa elected to relocate from their former location across the street to expand the building and add the gas component to their site” says Krantz. The buyer will benefit from its prime, corner location that sees about 14,000 VPD, brand new construction, and a 20-year lease term with rare, 10% rental increases every five years throughout the term, inclusive of the option periods.
OLLINGDALE, PA — Marcus & Millichap has announced the sale of Wawa, a 5,585 s/f net- leased prop- erty located in Colling- dale, accord- ing to Sean Beuche , re- gional man- ager of the firm’s Philadelphia office. Derrick Dougherty HREC negotiates sale of the Hampton Inn Pi t tsburgh- McKnight - PA
represented by Derrick Dougherty and Mark Krantz , in- v e s t m e n t spec i a l i s t s in Marcus & Millichap’s Philadelphia
Mark Krantz
office. The Wawa is located at 910 Macdade Blvd. in Collingdale. Wawa, Inc. is a privately held company with a chain of more than 840 convenience stores
Collingdale Wawa
(over 500 offering gasoline) and more than 30,000 em- ployees in Pennsylvania, New
Jersey, Delaware, Maryland, Virginia, Florida and Wash- ington DC.
Hampton Inn
PITTSBURGH, PA — HREC Investment Advi- sors has arranged the sale of the 107-guestroom Hampton Inn Pittsburgh-McKnight located in Pittsburgh. HREC Investment Advisors represented the seller on this transaction. The marketing and negotiations were led by Ketan Patel , managing director, located in the Wash- ington DC office, Ted Anka , vice president located in the Miami office and Mark von Dwingelo , broker of record for Pennsylvania. The Hotel is located im- mediately off of McKnight Rd. roughly five miles north of Downtown Pittsburgh. Optimally situated between Cranberry Township and Downtown Pittsburgh, the Hotel profits directly from a healthy mix of diversified businesses, as well as its prox- imity to major area attrac- tions, such as Ross Park Mall and Downtown Pittsburgh. The property is located near major industrial, medical and university demand gen- erators, such as the UPMC Passavant Medical Center, Triangle Tech, University of Pittsburgh, and Carnegie Mellon University.
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