JLL Marketing Chestnut Street Retail Building

PHILADELPHIA—JLL is now marketing for sale a retail building on Chestnut Street that is fully leased to sporting goods chain Modell's.

The property at 1528 Chestnut St. is owned by New York City investor Alex Adjmi and could fetch a sale price of as much as $10 million, according to the Philadelphia Business Journal.

“1528 Chestnut Street is rare value-add opportunity on one of the best retail blocks in Center City,” says Jim Galbally, a broker with JLL who has been hired to sell the building.

The 25,855-square-foot property fronts Chestnut Street and extends to Sansom Street. The lease with Modell's expires in January 2017 and the property's zoning designation allows for dense mixed-use development. See story in the Philadelphia Business Journal.