Marvin and Barbara Dunoff and Sid and Gloria Dunoff sell the 18,845-sf Chestnut St. property for just under $2.3 million, or about $119.40 per sf. This area of Chestnut St., northeast of Rittenhouse Square, is currently undergoing a revitalization in efforts to create a continuous retail corridor to complement stores along Walnut St.'s parallel blocks to the south. Pearl, a local investor with properties on Walnut, Spruce and Pine streets, was represented by the local office of Colliers L&A.
Colliers represented FAP Properties and Herbert Lipton in the sale of the 207,545-sf building on 15 acres at Tomlinson Rd. and also brokered a lease to ASK Plastics for a portion of the property. Additional space there remains available for lease. Premier Bank provided financing for the sale. The terms are undisclosed.
This property is contiguous to 11500 Roosevelt Blvd., which Wolf acquired four years ago. The current acquisition gives both properties access to Rte. 1 and Tomlinson Rd.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
