Horvath & Tremblay sells two retail properties in Pennsylvania for $4,230,000

Mark Taylor completes transactions in Folsom and Reading, PA

The Shops at Milmont in Folsom

Folsom & Reading, PA — Horvath & Tremblay has completed the sale of two retail properties in Pennsylvania for a total of $4.23 million.

Mark Taylor of Horvath & Tremblay has successfully completed the sale of The Shops at Milmont in Folsom. Horvath & Tremblay represented the seller and secured the buyer to complete the transaction at a sale price of $3.35 million. The Shops at Milmont is located at 501-537 W MacDade Blvd. The Shops at Milmont is a 100% leased strip center in densely populated eastern Delaware County, just outside the city limits of Philadelphia. The center is home to a health care-focused rental roll with four tenants, the largest of which, Premier Orthopedic & Sports Medicine, has over 35 locations and is the second-largest orthopedic practice in the Greater Philadelphia area. Premier and national credit tenant Quest Diagnostics, together, comprise 70% of the gross leasable area. The property is strategically located along W MacDade Blvd., sitting between Milmont Ave. and Baltimore Blvd. The parcel features excellent frontage and visibility along W MacDade Blvd., one of the area’s primary commercial and commuter corridors, featuring an extensive array of national tenants and major shopping centers that drive traffic and consumers to the area. The location offers convenient access to area train stations, major highways, including I-95 and I-476, US Rte. 13, and PA Rtes. 320 and 291, offering transportation throughout the Philadelphia metro area.

Taylor has also facilitated the sale of Beauty & More in Reading, PA. Horvath & Tremblay represented the seller and sourced the buyer to complete the transaction at a sale price of $880,000. Beauty & More is located at 3400 N 5th St. Beauty & More occupies an 8,000 s/f building on a 0.23-acre parcel of land. Beauty & More has 9+ years remaining on their lease with two, 5-year renewal options. The lease calls for attractive rent increases every five years throughout the primary lease term and at the start of each of the renewal options. Beauty & More reimburses 100% of the real estate taxes and insurance and handles common area maintenance directly, protecting against rising expenses. Beauty & More is a regional tenant with 14 locations in New Jersey and Pennsylvania. The property is extremely well located along N 5th Street Highway (US Route 222 BUS), one of the area’s primary commercial and commuter corridors. The property enjoys outstanding visibility, frontage and access and is in the center of a dense trade area that is home to shopping centers, national and local retailers, restaurants, and businesses, all of which drive traffic to the area. Beauty & More is within minutes of several area schools and is surrounded by residential neighborhoods, providing a built-in customer base. Additionally, the property is convenient to the area’s primary roadways, Reading Regional Airport, two hospitals and three colleges/universities.

Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single-tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale-lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.