Newmark is exclusively retained to market the sale of One Plymouth Meeting, a nine story, 180,000-square-foot office property at the heart of the Plymouth Meeting Mall - a regional hotbed of and pioneer in the ‘retail/entertainment’ format in Montgomery County, Pennsylvania.
Newmark’s greater Philadelphia Capital Markets team comprising Mike Margolis, Dave Dolan and Dave Garonzik, along with market expert Jeff Mack, are marketing the asset for Keystone Property Group. The property is located at 502 West Germantown Pike and sits within the destination shopping district of the Plymouth Meeting Mall. The asset, which is unoccupied, is positioned for a variety of uses or redevelopment. It is currently zoned for senior housing, office and retail uses, including any combination thereof and may be rezoned to allow for multifamily or hotel redevelopment. Margolis stated, “the property features the three main criteria for a senior living facility: a large variety of walkable amenities, four-way interstate access and high-income demographics.”
One Plymouth Meeting benefits from some of the best vehicular access and amenities in the greater Philadelphia market. It is visible by over 240,000 travelers each day along the adjacent Pennsylvania Turnpike and I-476 (the Blue Route) and offers immediate access to the entire Philadelphia region via the Mid-County Interchange. One Plymouth Meeting’s unique location at the Plymouth Meeting Mall also makes it the only asset for sale in the region with an abundance of retail, restaurants and entertainment amenities at its doorstep, offering developers the opportunity to create a truly vibrant live-work-play environment. Nearby retailers include the LEGOLAND Discovery Center, AMC Movie Theatre, Dave & Buster’s, and the Miller Ale House.
Newmark (“Newmark”), operated by Newmark Group, Inc. (“Newmark Group”) (NASDAQ: NMRK), is one of the world’s leading and most trusted commercial real estate advisory firms, offering a complete suite of services and products for both owners and occupiers. Together with London-based partner Knight Frank and independently-owned offices, Newmark’s 18,000 professionals operate from approximately 480 offices on six continents. Newmark’s investor/owner services and products include investment sales, agency leasing, property management, valuation and advisory, diligence, underwriting, government-sponsored enterprise lending, loan servicing, debt and structured finance and loan sales. Occupier services and products include tenant representation, real estate management technology systems, workplace and occupancy strategy, global corporate services consulting, project management, lease administration and facilities management. For further information, visit www.ngkf.com.
Discussion of Forward-Looking Statements about Newmark
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