Bath, PA, September 12th, 2023 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research, and advisory services, announced today the sale of Main Street Plaza, a 15,000-square-foot multi-tenant property located at 107 East Main Street, Bath, Pennsylvania, according to Sean Beuche, regional manager of the firm’s Philadelphia office. The asset sold for $900,000.
Colin Reder, Scott Woodard, and Derrick Dougherty, investment specialists in Marcus & Millichap’s Philadelphia office, had the exclusive listing to market the property on behalf of the seller, a Pennsylvania based private investor. “The property has tremendous real estate fundamentals with 1.65 acres on a busy retail corridor with 15,000 square feet of gross leasable area, and ample parking with over 100 spaces,” said Colin Reder.
“This property allowed for a value-add opportunity for buyers through the large amount of vacancy and the redevelopment potential,” said Scott Woodard. The center had almost 50% vacancy with another 22% expiring at the end of the year.
“Main Street Plaza presented investors with an incredible opportunity to acquire a shopping center in a diverse and growing market with a well-known national brand as the anchor tenant, Dunkin’,” said Colin Reder. Dunkin’ has grown from 6,400 to over 9,420 locations in the past decade.
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research, and advisory services with offices throughout the United States and Canada. As of December 31, 2021, the company had 1,994 investment sales and financing professionals in 82 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting, and advisory services to clients. Marcus & Millichap closed 13,255 transactions in 2021, with a sales volume of approximately $84.4 billion. For additional information, please visit www.MarcusMillichap.com.
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