The Flynn Company Announces Sale of 1100 Chestnut Street in Philadelphia – Milkboy Property
Philadelphia – April 2016 – Michael Gallagher and Brendan Flynn of The Flynn Company recently represented the Seller, an entity of U3 Advisors, in the sale of 1100 Chestnut Street in Center City Philadelphia. The 2-story, 3,397 SF retail building was fully occupied by Milkboy Philadelphia – a restaurant, bar, café and live-music venue – at the time of sale. They will continue to lease the space under a long-term lease. Thomas Jefferson University Health System acquired the building for an undisclosed price and was represented by Sid Smith and Neil Brazitis of NGFK.
With a tremendous location adjacent to Jefferson Hospital and in a neighborhood burgeoning with new development, The Flynn Company was able to highlight the potential of the CMX-5 zoning designation and generate significant interest from prospective buyers. Ultimately, nine purchase offers were procured and The Flynn Company worked with the Seller to leverage the interest and negotiate the maximum sale price.
The Flynn Company is a full service commercial real estate firm with brokers spanning Pennsylvania, New Jersey, Delaware and Maryland. We are engaged in all phases of real estate brokerage, management and development. This broad range of capabilities allows us to best represent our clients in all of their real estate needs (www.flynnco.com).