Marcus & Millichap brokers $6.1M sale of office property in Eastern PA

BETHLEHEM, PA – Marcus & Millichap announced the sale of 1 E. Broad St., a class A office property in Bethlehem. The asset sold for $6.1 million.

“This was a complex transaction involving multiple stakeholders and a unique ownership structure,” said Brian Higgins, associate director investments in Marcus & Millichap’s King of Prussia office. “The buyer and seller remained committed throughout the process, resulting in a successful outcome. The seller achieved its objective of monetizing a premier asset, while the buyer acquired a landmark class A office property with strong tenancy, stable cash flow and long-term upside. This sale is a testament to the enduring value of well-located, high-quality office assets and the continued investor interest in proven suburban markets throughout Eastern Pennsylvania.”

Higgins, David Shoemaker, Jack Hamilton, Andrew Fannin and Ari Nordlinger of Marcus & Millichap exclusively marketed the property on behalf of the seller, A10 Capital, and Higgins procured the buyer, Post Road Management.

The sale included four of the building’s five commercial condominium units, along with the basement, totaling 72,676 s/f. The space is divided into 20 tenant suites, with retail tenants on the ground floor and professional office users on the upper levels. Tenants include the Administrative Office of Pennsylvania Courts, Fulton Bank, and the Melting Pot.

1 E. Broad St. is positioned on a prominent corner in Bethlehem’s historic central business district, surrounded by restaurants, retailers and entertainment venues. It is close to Lehigh University, St. Luke’s University Hospital - Bethlehem and the Lehigh River.