facebook
Traded Co logo
Submit

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

Property Image
SOLD
$52,000,000

Pennsylvania

See Similar Deals
Retail258,494 SF
Sold 11/24/2021
the dealplayerscompscontact
Property Image
SOLD

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

2900 Island Ave, Philadelphia, Pennsylvania, USA

See Similar Deals
Retail258,494 SF
Sold 11/24/2021
the dealplayerscompscontact
Contact now

Summary

PENNSYLVANIA
Asset Type:Retail
Price Per Square Foot:$201
Total Square Footage:258,494 SF
Transaction Type:Sale

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.

Players

Brad Nathanson
Institutional Property Advisors
Brad Nathanson
15 deals$488.2M volume(215) 531-7000
BROKER
Marcus & Millichap
Marcus & Millichap
BROKERAGE
UR
United Hampshire US REIT
BUYER
Onyx Equities
Onyx Equities
SELLER
AD
Abrams Realty & Development
SELLER
SC
Siguler Guff & Company
SELLER

Details

SOLD
IMAGE: Brad Nathanson DATE: 11/24/2021 ADDRESS: 2900 Island Ave MARKET: Philadelphia, Pennsylvania ASSET TYPE: Retail BUYER: United Hampshire US REIT SELLER: Onyx Equities, Abrams Realty & Development, & Siguler Guff & Company BROKER: Brad Nathanson - Institutional Property Advisors (IPA) - Marcus & Millichap SALE PRICE: $52,000,000 SF: 258,494 ~ PPSF: $201

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$2,773,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$184,745.03
Cash-on-Cash Return-1.27%
Monthly Debt Service$246,506.53
Annual Debt Service$2,958,078.35