NAI Mertz negotiates sale of 61,000 s/f office/flex building
Philadelphia, PA — NAI Mertz recently completed the sale of a 61,000 s/f multi-purpose office building located at 2801 Grant Ave. in Philadelphia to Iron Stone Strategic Capital Partners. The NAI Mertz team of vice presidents, Zena Charokopos and Rick Gordon negotiated the transaction on behalf of the seller. Iron Stone was self-represented by its in-house brokerage team.
Situated on seven acres, 2801 Grant Ave. is a 61,000 s/f multi-purpose office/flex building, located just off Roosevelt Boulevard and within minutes of Interstate 95. The building features 26,000 s/f of office space and 35,000 s/f of warehouse space with eight tailgates. Iron Stone’s proposed plan is to convert the entire building into office space.
The Center for Autism (CFA) currently occupies 12,500 s/f of office space within 2801 Grant Ave., and plans to expand by another 20,000 s/f. Currently, CFA is the sole tenant in the building.
“CFA’s long-term lease and desire to expand made the property an attractive opportunity for investors,” said Charokopos. “We are pleased to have sold 2801 Grant Ave. to a reputable real estate investment group that will guide The Center for Autism in growing its Northeast Philadelphia location,” she added.