A property with two commercial buildings fronting
Lancaster Avenue in Paoli, Pa., has traded for $11.4 million.
Paoli Center, which totals 1.73 acres at 152 Lancaster
Ave., has a Walgreens and PNC Bank fully occupying two structures on the
property.
Walgreens is one of two tenants at Paoli Center.
The two buildings total 15,400 square feet and are leased
on a long-term basis to the tenants. The property sits just in front of the
Paoli Shopping Center, which is owned and developed separately by Brandolini
Cos.
Pineville Properties of Valley Forge, Pa., was the
seller.
A private investor, Theodore Griffinger, bought the
property “free and clear of existing debt,” said Holliday Fenoglio Fowler in a
statement. Chris Munley of HFF represented the seller. John Andreini of Capital
Pacific represented the buyer.
Source: Philadelphia
Business Journal
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