Thank you for sharing!

Your article was successfully shared with the contacts you provided.

(Read more on the industrial market.)

WEST CHESTER, PA-After selling his business, Joseph D’Andrea, who operated a granite and marble fabrication company at 1139 Phoenixville Pike, has sold the 15,000-sf building for nearly $1.5 million, or just under $100 per sf, to locally based Vanrep Properties Inc. Like D’Andrea, the buyer is a user/owner who will utilize the unusual asset as a showroom, office and warehouse.

The property combines a 3,000-sf historic 1700s former residential building with a 12,000-sf modern warehouse that was added in the late 1970s. To most potential buys, the combination of structures would have been a detriment, according to MaryFrances McGarrity of King of Prussia-based Jackson Cross Partners, who represented the seller.

“Although the house gives the building character,” she tells GlobeSt.com, “it’s a funky looking property, and most prospects want a 15,000-sf warehouse.” Nevertheless, she priced it at the $100-per-sf mark and found a buyer that appreciated its distinctive character and will use the residence for offices.

The building is located a half-mile from Routes 202 and 3. The warehouse portion has a drive-in door and two loading docks. “It has a strong owner/user occupancy history,” McGarrity says, “and the sale also demonstrates the strength of the market for modern, well-located, small industrial buildings.” Charles Swope of Malvern-based Source Realty Group, represented Vanrep in the transaction.

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?


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.