Two well-appointed buildings totaling roughly 85,000 square feet sold for $8.7 million in just four months, a sign that economic indicators are favorable, according to Chuck Swope, CCIM, broker of record and chairman of Swope Lees Commercial Real Estate, LLC.
“I think this is a signal of significant optimism in this market,” Swope said. “The property sold at fair market value, and this demonstrates some positive trends. This was an approximately four-month start-to-finish deal, further proof real estate investors are always looking for quality investments. We enjoy our reputation as a trusted advisor for those investors.”
Commercial real estate expert James “Jimmy” Lees of Swope Lees handled the deal for 901 S. Bolmar St. in West Chester, a light industrial and flex property that is 91 percent leased and boasts a diverse mix of tenants and balanced lease expirations. Lees, who has deep experience in this market, says this property is a prime example of why West Chester is attractive to the commercial real estate industry: its proximity to Route 202 and other major thoroughfares, permanent employers such as West Chester University and Chester County government, plus other large companies that provide spin-off employment. It’s also in the heart of Pennsylvania’s wealthiest and most educated county. Lees facilitated the sale between South Bolmar Street Associates, LP, and a private investor. SSH represented the seller and the project was financed by DNB First.
“Interest rates remain at historic lows; now is the time to take advantage of efficiently priced capital,” Swope added. “Interested in investing or learning about making an investment? Contact us for a complimentary consultation.”
Swope Lees Commercial Real Estate, LLC, is a West Chester-based boutique commercial real estate services firm providing an array of professional services to its clients, including commercial real estate sales and leasing as well as market and financial analysis. Learn more at www.swopelees.com, or call (610) 429-0200.
- Photo: Swope Lees
