United Hampshire US REIT Acquires Retail Property In Philadelphia For $52M

A retail property located at 2900 Island Ave in Philadelphia, Pennsylvania has been sold for a price of $52,000,000. The property spans a total area of 258,494 square feet, resulting in a price per square foot of $201. The transaction took place on November 24, 2021.

Summary of transation details

• Property Type: Retail
• Transaction Amount: $52,000,000
• Address: 2900 Island Ave, Philadelphia, Pennsylvania
• Square Footage: 258,494
• Price per Square Foot: $201

The buyer of the property is United Hampshire US REIT, while the seller consists of Onyx Equities, Abrams Realty & Development, and Siguler Guff & Company. Brad Nathanson, representing Institutional Property Advisors (IPA) at Marcus & Millichap, acted as the broker in the transaction.