RRA Sells 200,000 SF Re-Development Site in Brewerytown Neighborhood of Philadelphia for $1,850,000
PHILADELPHIA, PA–(April 25, 2016) – Rittenhouse Realty Advisors is pleased to announce the sale of the site of the former Red Bell Brewing Company (originally occupied by the F. A. Poth Brewing Company) in Philadelphia’s Brewerytown neighborhood. The property, located at 1500 North 31st Street, includes three contiguous parcels with over 70,000 square feet of land and a 200,000± square foot building.
Brewerytown has experienced rapid redevelopment over the past several years, especially around the Girard Avenue commercial corridor, which has seen an influx of new businesses open. Managing Partner of RRA, Ken Wellar, stated: “Brewerytown is one of the most quickly redeveloping areas in the city of Philadelphia. These parcels sat vacant for more than ten years, while the whole neighbor in front of the property has been completely transformed.”
The neighborhood enjoys close proximity to many city attractions such as Fairmount Park, The Philadelphia Zoo, the Schuylkill River Trail, and the Philadelphia Art Museum, and is also convenient to the Center City Business District, Interstate-76 and Interstate-676. Vincent Tagliente, an associate at RRA, noted: “This buyer was new to the market and a true testament of how RRA’s unique marketing process is bringing new buyers to this market.”