PHILADELPHIA, PA — Marcus & Millichap, a leading commercial real estate investment services firm, has announced the sale of Shops at Red Lion, a 24,688 s/f retail property located in Philadelphia, PA, according to Sean Beuche, regional manager of the firm’s Philadelphia office. The asset sold for $11.975 million.Derrick Dougherty, Mark Krantz, and Scott Woodard, investment specialists in Marcus & Millichap’s Philadelphia office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, a limited liability company controlled by David Waldman of David Adam Realty, was secured by Dougherty, Krantz, and Woodard. “Shops at Red Lion is a prime example of a buyer and seller partnering up and having an open line of communication to get the deal to closing. It’s a valuable lesson to the investment community, sometimes who you are buying from is just as important as what you are buying” said Dougherty. READ MORE