Smylie Times building in Far Northeast sells

A two-structure complex along Roosevelt Boulevard, which includes what has been known for decades as the Smylie Times building, has sold for $17 million.

George Comfort & Sons Inc. sold the complex to Harrison Street Real Estate Capital of Chicago. The transaction was arranged by Ben Appel, Philip Mahler, Evan Kovac and Eric Anton of Holliday Fenoglio Fowler.

The Smylie Times building, which had long been the home of the Northeast Times and named for the family who established the newspaper, totals 57,000 square feet at 2607 Rhawn St. in Philadelphia. The other building in the sale, 8040 Roosevelt Blvd., totals 27,000 square feet. The pair is 94.7 percent leased with Thomas Jefferson University Hospital as the anchor tenant.

The properties are in the Far Northeast and not far from Trinity Health’s 231-bed Nazareth Hospital campus. The location along Roosevelt Boulevard is a strategic one for Jefferson. It is within proximity of two of its recent acquisitions — Aria Health System and Abington Health System. The property is also a half of a mile from Nazareth Hospital, a 231-bed facility and within a mile of nearly 1,500 senior and age-restricted housing units.

Source: Philadelphia Business Journal