X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

PHILADELPHIA-On assignment for the local office of AAA Mid-Atlantic, MichaelKennedy of the Julien J. Studley office here is canvassing area brokers andbuilding owners for leads to between two to four auto repair sites. AAArequires buildings of between 10,000 sf and 12,000 sf, but will consider ones up to18,000 sf, depending on location.

The preferred areas, all in PA, are Conshohocken, Plymouth Meeting, King ofPrussia, Springfield, West Chester and Northeast Philadelphia. Forfacilities that meet its long list of requirements, AAA says it will pay between $10per sf and $19 per sf.

It is looking for free-standing, out-posts, or shopping center end-caps onapproximately an acre, with high visibility from a main road, strong trafficcounts, parking for 35 vehicles, and easy ingress and egress. The medianhousehold income of an area should be at least $75,000 a year, and, ideally,there should be 45,000 households within three miles of a facility and 75,000within five miles.

The buildings are required to have 14-foot ceilings, multiple bay doors orthe ability to accommodate the installation of at least two such doors. Theproperties must either be zoned for car repair or provide an opportunity forre-zoning, and there has to be space and zoning available for a largelighted sign.

Studley expects a market-level commission from owners with whom transactionsare completed.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt. NET LEASE Spring 2021Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.