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[IMGCAP(1)]PHILADELPHIA-BDB Co. sold its 86,315-sf office and cold storage food warehouse and distribution center at 3445 and 3535 S. Front St. here to Ashforth Paradigm Capital Advisors for nearly $7.7 million. BDB, which was represented by CB Richard Ellis Inc. in the transaction, is a private partnership affiliated with the facility’s sole tenants, Brooks Provisions.

[IMGCAP(2)]The property, which is located within the Food Distribution Center here, consists of three-story office space connected to a one-story warehouse and distribution facility on 3.36 acres. The original building was constructed in 1965 and expanded by 46,000 sf in 2001, when the 9,525-sf office section and a high bay freezer space were added. Brooks Provisions, which has occupied the space for 35 years and has its corporate headquarters in the office section, plans to remain on the property.

[IMGCAP(3)]CBRE senior vice president Stephen Marzullo, who arranged the sale with assistance from executive vice president Patrick Green and associate Michael Mullin, tells GlobeSt.com that BDB felt the market timing was ideal for a sale. He added that there is very high demand for space in the FDC submarket, and limited supply for that space. The property is located in a master planned industrial park designed specifically for food-related users. The entire complex is approximately 300 acres with 2.5 million sf of warehouse, freezer and cooler buildings.

According to Marzullo, this is an excellent location for distribution properties. The Front St. property is half a mile from I-95, I-76 and the Walt Whitman Bridge. In addition, there is an active rail spur located in the industrial park, and both Packer Avenue Marine Terminal of the Ports of Philadelphia and Philadelphia International Airport are nearby.

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