12B — May 21 - June 17, 2021 — Pennsylvania — M id A tlantic Real Estate Journal
www.marej.com
P ennsylvania Brick Capital, led by Alex Cook and Scott Baldasare, purchased the property For the first time since the 1960s, RRA sells iconic Franklin House in Center City for $12.7M
HI LADELPHI A , PA — Rittenhouse Realty Advisors , a commercial real estate sales brokerage firm, is pleased to announce the sale of the Franklin House, located at 829-37 Spruce St. in the historic Washington Square neighborhood of Philadel- phia. This is the first time the property has been sold since the 1960’s. The property contains forty- nine apartments plus 16,600+/- s/f of office and retail space and had received over $385,000 in capital improvements prior to P
Additionally, is it one block from SEPTA’s Jefferson Sta- tion, as well as PATCO’s 9th- 10th and Locust Street Station to New Jersey. Ken Wellar , managing partner at RRA, stated: “The property is a core investment due to its premium location in the city, across the street from Pennsylvania Hospital. Because it is such a desir- able asset, the property has not traded hands since the 1960s.” Brick Capital , led by Alex Cook and Scott Bal- dasare, purchased the prop-
erty. “Brick Capital is a large, well-respected opera- tor in Philadelphia who plans to greatly increase value by taking advantage of the tremendous upside in this asset,” added Corey Lon- berger , managing partner. Rittenhouse Realty Advi- sors is a commercial real es- tate and brokerage company in Philadelphia providing advisory services to private capital and institutional investors throughout the Northeast Region. MAREJ The Bill Gladstone Group of NAI CIR facilitate 14,055 +/- s/f lease MECHANICSBURG, PA — NAI CIR has recently closed the following commer- cial real estate transactions: Teknika USA, Inc. leased 14,055 +/- s/f of space, Suite 106, at 5066-5073 Ritter Rd. in Mechanicsburg. The Bill Gladstone Group of NAI CIR represented the lessee, Teknika USA, Inc. Anette Means and Derry Young of High Associates repre- sented High Properties, the lessor. The three-unit multifamily property at 1839 N 2nd St. in Harrisburg has been sold to WCI Parnters, LP. Peter Higgins , of NAI CIR, repre- sented the seller. The 700 s/f office located at 401 E. Louther St. in Carlisle, has been leased to Phrazz II, dba Spherion Staffing. Hig- gins represented the landlord. Andreya Jones Counsel- ing, LLC leased 790 +/- s/f of space at 3780 Trindle Rd. in Camp Hill. Bill Gladstone a nd Nick Martin of the Bill Gladstone Group of NAI CIR handled the transaction. Farmers Insurance, Agot Agency, leased office space, Suite 105, at 1017 Mumma Rd. in Lemoyne. The Bill Gladstone Group of NAI CIR represented the lessee and Thomas Posavec from LandmarkCommercial Re- alty represented the lessor. Folium, Inc. bought 5,915 +/- s/f of office space, Suites 202 and 203, at 5006 E. Trin- dle Rd. in Mechanicsburg. The Bill Gladstone Group of NAI CIR, represented the seller and Bill Shearer of Berkshire Hathaway , rep- resented the buyer. MAREJ
windows and tenants enjoy being within walking distance to the top restaurants, cafes, bars, and theatres in the city. The property is well-situat- ed between major employers Penn Medicine and Thomas Jefferson University Hospital. Ken Wellar Corey Lonberger
Franklin House
sale. The apartments feature high ceilings and large bay
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