Bentley Manor Apartments and Grove Self Storage Sell

PHILADELPHIA-The 71-unit apartment building on W. 72nd Avenue sells for $3 million, or about $42,253 a unit, while, in an unrelated transaction, Iron Stone Management pays $1.7 million for a Chestnut Hill property ripe for redevelopment.

By Marita Thomas | February 24, 2005 at 09:40 AM

Grove Self Storage at 12-18 W. Willow Grove Ave. is currently home to a small self-storage business and an adult day care center. Thomas Gorman of Marcus & Millichap says, "its unique historic architecture and location in the heart of Chestnut Hill means it has potential to be redeveloped for a number of different uses."

He says he and his colleague, Spencer Yablon, "were able to effectively convey that upside potential to buyers and achieve a significant value for our seller." William and Sandra Shepherd are the sellers, and Iron Stone Management LLC is the buyer.

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