A collection of six commercial properties in Douglassville has sold for more than $10 million, according to commercial real estate brokerage firm Marcus & Millichap.
The company announced Wednesday, October 7, that it arranged the $10,027,169 sale of a retail portfolio totaling 48,736 square feet across 12.73 acres in Berks County.
The portfolio includes two strip shopping centers, three freestanding commercial properties and a 1.98-acre site available for future development. The shopping centers are fully occupied, while the freestanding properties are occupied by Dollar Tree, Chase Bank and Michael’s Restaurant.
The properties are located adjacent to one another at 180 Old Swede Road and 1179, 1191, 1205 and 1211 Ben Franklin Highway.
According to Marcus & Millichap, the transaction marked the first time the properties had been offered for sale by the family of the original developer.
“This was a first-generation sale on behalf of the family of the original developer of a site that has never previously been on the market,” said Colin Reder, associate director investments at Marcus & Millichap. “The portfolio offered buyers a rare opportunity to acquire a dominant retail corner featuring a strong mix of single and multi-tenant assets, complemented by developable land with meaningful upside beyond the in-place income.”
Reder and Derrick Dougherty, senior managing director investments at Marcus & Millichap, represented the seller and secured the buyer, described as a large Philadelphia-area company. The brokerage did not identify the buyer or seller by name.
“It was a pleasure working with both the seller and the buyer on this portfolio, and their collaboration throughout the process made for a seamless closing,” Dougherty said.
The transaction includes both existing income-producing retail properties and undeveloped land that could accommodate additional commercial development.
Douglassville is located in eastern Berks County, approximately 40 miles from Philadelphia, within the greater Reading metropolitan area.
