Agustin Pena, Director of Investment Sales at Berko & Associates has successfully negotiated the sale of a 3-building 400k SF flex portfolio in the Northeast Philadelphia submarket. The buildings were well-located close to I-95 and are triple-net leased to strong local and national tenants. The investment transpired due to the strong cash flow of the assets and the long-term lease, some of which were just inked recently. “The CAP Rate on the properties 8.9% and a projected ROE of 16% the buyer was excited to shift his focus from NYC to Philadelphia” said Pena. The Northeast Philly sub-market is dotted with retail shopping strips and flex properties with an average vacancy rate under 10%, making a deal like this appeal to an out-of-state investor. Berko & Associates is a multi-disciplinary real estate brokerage firm that specializes in investment sales, finance and advisory of commercial properties.
