NKF brokers sale of 1001 Adams Ave. for $20.0 million
AUDUBON, PA — Newmark Knight Frank (NKF) announced the completion of the sale of 1001 Adams Ave. in Audubon. NKF’s Capital Markets team comprising Mike Margolis, Dave Dolan and Dave Garonzik, along with local market expert Jeff Mack, represented the seller Delaware Valley Real Estate Investment Fund, L.P. in the $20.0 million trade of the property. The property was sold to Blue Stone Capital. The 136,918 s/f property is currently 100% occupied. “This property offered investors an opportunity to acquire a well-maintained, modern office property with a credit tenant in the highly desirable health care industry,” said Dave Dolan, senior managing director of NKF’s Capital Markets team.