Exelon Generation Co. LLC has tapped Philadelphia's
Binswanger real estate brokerage to sell Delaware Station, the former
Philadelphia Electric Co. power plant on 16.4 acres at 1325 N. Beach St., next
door to Penn Treaty Park in the city's lively Fishtown section. The package,
split in two lots, includes almost 6 acres underwater, the hulking 223,000 sq.
ft. plant on 5 acres, a 4-acre leased surface parking lot that can be shut on
six months notice, and a 1-acre back-up Exelon generator bank that's slated to
stay running until 2030.
According to a statement by Binswanger's Frank Cullen and
Chris Pennington: "The property will be sold on a sealed bid process with
offers due in writing by 5 PM November 3, 2014. All potential buyers must
register with Binswanger by October 15, 2014." Learn more at
www.delawarestation.com.
The deal includes almost a thousand feet of Delaware River
waterfront and sits northeast of Center City near the Girard Ave. exit on I-95,
close to the expanding Sugar House casino, the Waterfront Square high-rise
apartments, and the renovated and newly-constructed homes, apartments, bars and
restaurants of the former Northern Liberties factory neighborhood. Binswanger
estimates current yearly taxes at around $36,000. The online offering sheet
doesn't mention clean-up issues, nor estimate a price.
Source: Philly.com
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