Philadelphia – September 2016 – Patrick Gilmore of The Flynn Company successfully completed the sale of the well-known former Progress Lighting building located at 856 E Erie Avenue in Philadelphia as the sole broker in the transaction.
The Property was comprised of approximately 820,000 Sq. Ft of industrial space situated on a 19 Acre Site. The building had high vacancy and significant deferred maintenance at the time of sale. Shift Capital, LLC purchased the property with plans to upgrade the infrastructure of the building and continue to cater to the needs of industrial and manufacturing clients seeking an urban footprint with easy access to the major transportation arteries of the Philadelphia region.
The Erie Avenue Industrial Corridor borders on the Kensington and Juniata Park neighborhoods and is experiencing a significant revival in the industrial sector. Users have found cost effective solutions to their real estate needs in this market offering access to workforce and transportation.
Shift Capital is a placed-based real estate group with a mission to deliver both social and financial returns to investors and communities. This project continues Shift’s deep commitment to Kensington and North Philadelphia by attracting new jobs and forward thinking operators to the area. Please contact Matthew Grande at email@example.com or 212-920-5127 for more information.
The Flynn Company is a full service commercial real estate firm with brokers spanning Pennsylvania, New Jersey, Delaware and Maryland. The firm is engaged in all phases of real estate brokerage, management, construction and development. This broad range of capabilities allows the Company to best represent our clients in all of their real estate needs (www.flynnco.com). If you would like additional details about the sale or would like to discuss the sale of your property, please contact The Flynn Company at 215-561-6565, Patrick Gilmore ext. 122, firstname.lastname@example.org.