12A — September 23 - October, 20, 2022 — Retail Development Reimagined — M id A tlantic Real Estate Journal
www.marej.com
R etail D evelopment R eimagined
31,573 s/f Edison Square located outside of Center City & University City is a high-performing retail hub Marcus & Millichap leverages sale of Philadelphia shopping center for $9.5 Million
HILADELPHIA, PA — Marcus & Millichap announced the sale of Edison Square, a 31,573 s/f retail shopping center located outside of Center City and University City, Philadelphia. “Edison Square presented investors with an incredible opportunity to acquire a gro- ceryanchored asset in a diverse market, saturated with inner- city workers, students, and families,” said Scott Wood- ard , first VP investments. Woodard, Derrick Dough- erty, Ridge MacLaren, Clarke Talone, Andrew P
an amazing job securing a tenant mix to cater to the lo- cal submarket’s needs,” said Dougherty, first VP invest- ments. “Save-A-Lot, Family Dollar, and Snipes are the top performing locations in the state of Pennsylvania and in the top 10% of performing loca- tions in the country,”Dougherty added. MAREJ Five critical things to remember when deciding to do a 1031 Exchange tenants, toilets and trash as well as they are wanting to diversify their investments into multiple properties then a DST 1031 exchange may be a solution. The DST (or Delaware Statutory Trust) is a type of property whereby the management is handled by a third party trustee and since the typical minimum invest- ment of a 1031 DST offering is $100,000 investors are able to purchase a diversified portfolio of Delaware statutory trust properties that may include a piece of Walgreens for 100k, piece of a FedEx distribution warehouse for 100k and a piece of a 800 unit portfolio of multifamily properties located throughout the south east and Texas*. Dwight Kay is founder and CEO of Kay Props. MAREJ About Kay Properties and Investments, LLC: This material does not constitute an offer to sell nor a solicitation of an offer to buy any security. Such offers can be made only by the confidential Private Placement Memorandum (the “Memorandum”). Please read the entire Memorandum paying special attention to the risk sec- tion prior investing. This email contains information that has been obtained from sources believed to be reliable. There are material risks associated with investing in real estate, Delaware Statutory Trust (DST) properties and real estate securities including illiquidity, tenant vacancies, general market conditions and competi- tion, lack of operating history, interest rate risks, the risk of new supply coming to market and softening rental rates, gen- eral risks of owning/operating commercial and multifamily properties, short term leases associated with multifamily prop- erties, financing risks, potential adverse tax consequences, general economic risks, development risks and long hold periods. There is a risk of loss of the entire invest- ment principal. Past performance is not a guarantee of future results. Potential cash flow, potential returns and potential appreciation are not guaranteed. For an investor to qualify for any type of invest- ment, there are both financial require - ments and suitability requirements that must match specific objectives, goals and risk tolerances. Securities offered through FNEX Capital, member FINRA, SIPC. continued from page 10A
Townsend and Colin Reder , in the Marcus & Millichap Philadelphia office, had the listing to market the property. Colin Reder, Steve Garth- waite and Mark Krantz , along with the team, assisted in securing the buyer. Sean Beuche , PA broker of record, assisted in closing the trans- action. Edison Square is an excep- tionally high-performing retail hub, producing $632,719 in net-operating income. “The sellers were all based in Philadelphia and were the original developers. They did
Edison Square
Relocation Opportunities Wanted
PENNSYLVANIA COUNTIES OF INTEREST INCLUDE: Bradford, Bucks, Carbon, Columbia, Lackawanna, Lehigh, Luzerne, Lycoming, Monroe, Northampton, Pike, Schuylkill, Sullivan, Susquehanna, Tioga, Wayne, Wyoming TYPES OF LOCATIONS WANTED: End Cap, In-Line, Drive-Thru, Free Standing
PLEASE CONTACT: Abbie Muto muto_a@sdepa.com | Cheryl Green green_c@sdepa.com (610) 366-8120 • www.sdepa.com
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