X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

WAYNE, PA-Storage Facilities has purchased the long-vacant 46,000-sf retail center at 604 Lincoln Hwy. for $2.1 million from Benenson Capital. Storage Facilities plans to convert the building to self-storage and construct an additional storage building on the six-acre site.

Patrick McCabe of CB Richard Ellis represented Benenson Capital, a privately held real estate investor, developer and asset manager. The price represents $45.65 per sf.

As a pure land transaction, the price represented $350,000 per acre, and just over $8 per sf. The building formerly held a grocery store and an Eckerd drug store. It is close to Route 1, Route 276 and I-95.

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
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt. NET LEASE Awards 2020Event

These awards honor the industry's most influential and 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 © 2020 ALM Media Properties, LLC. All Rights Reserved.