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Philadelphia Commercial Real Estate Fine Print

by RRA on January 31, 2013
Philadelphia Commercial Real Estate Fine Print

Korman Commercial Properties Inc. sold a 51,200-square-foot industrial building at 240 Benigno Blvd. in Bellmawr, N.J., in the Interstate Business Park for $2,115,000. Aerdux, a private company that makes and distributes architectural sheet metal, bought the property and will relocate from Pennsauken, N.J. Marc Isdaner, of Colliers International handled the sale … A 196-unit apartment complex at 7400 Roosevelt Blvd. in Northeast Philadelphia traded for $10.1 million, or about $51,709 a unit. Ken Wellar and Corey Lonberger represented the buyer and seller, which were undisclosed, in this transaction. The property involved an assumption of an existing CMBS loan…

Continental Bank sold 17 acres it owned off the southbound exit ramp of Route 1 and Newark Road in Kennett Square, Pa., for $845,000. Rocco L. Manfredi, a physician from Avondale, Pa., bought the land, which is zoned for commercial or industrial uses including professional office buildings, research laboratory, medical, retail store and medical clinics. JoAnn West and John Lieberman of Lieberman Earley & Co. arranged the transaction…

A church at 1915 Pine St. in the Fitler Square/Rittenhouse Square neighborhood of Philadelphia is up for sale. It totals 5,000 square feet, has a 2,400-square-foot sanctuary and a 2,400-square-foot garden. The structure was constructed in 1877. In and around the region, churches have been sold and taken on other uses, including residential and educational. Colliers International is marketing it for sale…

Three long-term leases were completed at the Rothman Institute building at 999 Route 73 in Marlton, N.J. Heart House cardiology practice took 6,500 square feet, Able Imaging leased 5,500 square feet and the Tao Institute took 2,500 square feet. Rothman, which bought the building in 2011, occupies 35,000 square feet of the 70,000-square-foot building. Scott Martin of Markeim-Chalmers Inc. represented the tenants and landlord.

Read the full article by Natalie Kostelni, Reporter for the Philadelphia Business Journal