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Exchange Right Acquires Bellefonte Retail Property For $10.1M

Property Image
SOLD
$10,100,000

Pennsylvania

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Retail
Sold 06/05/2024
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Property Image
SOLD

Exchange Right Acquires Bellefonte Retail Property For $10.1M

2699 Benner Pike

See Similar Deals
Retail
Sold 06/05/2024
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Summary

PENNSYLVANIA
Asset Type:Retail
Transaction Type:Sale

The sale of a Giant grocery store located at 2699 Benner Pike in Bellefonte, Pennsylvania has been finalized, fetching a sale price of $10,100,000. The transaction was facilitated by Dean Zang, Brad Nathanson, and David Crotts from Marcus & Millichap, representing the seller, a local developer. The buyer, an affiliate of Exchange Right, was represented by JRW Realty.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $10,100,000
  • Location: 2699 Benner Pike, Bellefonte, Pennsylvania
  • Market: Bellefonte, Pennsylvania
  • Asset Type: Retail
  • Acres: 5.69

The deal involved key individuals and companies such as JRW Realty, representing the buyer Exchange Right, and Brad Nathanson, David Crotts, and Dean Zang from Marcus & Millichap, acting as the seller’s representatives. The sale marks a significant transaction in the commercial real estate market of Bellefonte, Pennsylvania.

Players

Brad Nathanson
15 deals$488.2M volume(215) 531-7000
BROKER

Dean Zang
Institutional Property Advisors
17 deals$183.7M volume
BROKER

David Crotts
Institutional Property Advisors
17 deals$183.7M volume
BROKER

Details

SOLD
IMAGE: 06/05/2024 ADDRESS: 2699 Benner Pike MARKET: Bellefonte, Pennsylvania ASSET TYPE: Retail ~ ACRES: 5.69 BUYER: Exchange Right BUYER'S REP: JRW Realty SELLER'S REP: Brad Nathanson, David Crotts & Dean Zang - Institutional Property Advisors - Marcus & Millichap SALE PRICE: $10,100,000 NOTE: Marcus & Millichap has finalized the sale of a Giant grocery store in Bellefonte, Pennsylvania, fetching $10,100,000. The transaction was facilitated by Dean Zang, Brad Nathanson, and David Crotts from Marcus & Millichap, representing the seller, a local developer, with the buyer being an affiliate of Exchange Right, represented by JRW Realty.

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$35,883.15
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