The price tag is undisclosed, but exceeds $5 million, according to R. Christopher Datz of Pintzuk Brown Realty Group, which is also based in Jenkintown. Datz and Anthony Sembello of Pintzuk Brown along with Matt Fredrick of the Arden Group here represented Homel. Tony Falcone of locally based MS Fox represented Kaiserman. Datz and Sembello also arranged financing for the acquisition through Bear Stearns Commercial Mortgage. Pintzuk Brown will manage and lease the property.
The eight-story, 50,000-sf office building, which has 30 parking spaces, is located at 117-125 N Eighth St. at the corner of Arch Street. It is 100% leased to six tenants. Sembello says the property joins other class B office assets owned by Homel's group, and this building's location, near the Pennsylvania Convention Center and major transportation hubs, contributed to its appeal.
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