Wharton Realty Group Inc. Acquires Retail Property In Reading, Pennsylvania For $72M
4599 Perkiomen Avenue, Reading, Pennsylvania 19606, United States
$72,000,000
$199/SF
Building Size
361,095 SF
Asset Type
Retail
Closing
Mar 17, 2022
AI
The retail property located at 4599 Perkiomen Ave in Reading, Pennsylvania was recently sold for a total sale price of $72,000,000. The property spans across 50 acres and has a total square footage of 361,095. The sale took place on March 18, 2022.
Summary of transaction details
- Property Type: Retail
- Sale Price: $72,000,000
- Square Footage: 361,095
- Address: 4599 Perkiomen Ave, Reading, Pennsylvania
- Market: Reading, Pennsylvania
- Acres: 50
Wharton Realty Group Inc. was the buyer in this transaction. The buyer was represented by Christopher Munley and Colin Behr, who work for JLL.
Reading Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.22%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93