CBRE announced today the sale of 3440 Bartram Avenue, a 40,900 sq. ft. industrial site located just minutes from Interstate 95 and Philadelphia International Airport. Alliance HSP acquired the asset for $3.625 million.
A CBRE team comprised of Michael Kane and Les Haggett, along with CVA Commercial Group’s Vincent Jolly, represented the seller, Philadelphia Housing Authority (PHA) in the marketing and sale negotiations.
PHA, who has owned and occupied 3440 Bartram Avenue since 1990, used the 3.77-acre facility as a distribution center to store equipment and vehicles to service the 12,000+ apartment units in their inventory.
“PHA sold the property in an ongoing effort to centralize operations to realize operational efficiencies, while Alliance continues to expand their industrial portfolio with this strategic acquisition,” stated CBRE First Vice President Les Haggett.
Built in 1980 and situated in the desirable southwest Philadelphia industrial submarket, 3440 Bartram Avenue offers 21’ high ceilings, seven loading docks and parking for more than 60 vehicles.
A CBRE team comprised of Michael Kane and Les Haggett, along with CVA Commercial Group’s Vincent Jolly, represented the seller, Philadelphia Housing Authority (PHA) in the marketing and sale negotiations.
PHA, who has owned and occupied 3440 Bartram Avenue since 1990, used the 3.77-acre facility as a distribution center to store equipment and vehicles to service the 12,000+ apartment units in their inventory.
“PHA sold the property in an ongoing effort to centralize operations to realize operational efficiencies, while Alliance continues to expand their industrial portfolio with this strategic acquisition,” stated CBRE First Vice President Les Haggett.
Built in 1980 and situated in the desirable southwest Philadelphia industrial submarket, 3440 Bartram Avenue offers 21’ high ceilings, seven loading docks and parking for more than 60 vehicles.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2020 revenue). The company has more than 100,000 employees serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2020 revenue). The company has more than 100,000 employees serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
