listing details steve jeffries tommy ciccarone jr....26,710 sf (plus full basement) mixed-use...
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L I S T I N G D E TA I L S Tommy ciccarone [email protected]
610.999.5800
SHAUN LYONS [email protected]
267.707.3347
STEVE JEFFRIES [email protected]
267.707.3327
The official asking price is $8,216,533. The Owner will
consider all circumstances relating to each proposal
including, without limitation, the purchase price,
contingencies, if any, period to conduct due diligence,
time required to close and the financial capacity of
each Purchaser to perform. Property tours will be
accommodated by PRG upon request. All discussions
with tenant(s) at the site regarding this offering or
lease(s) at the property are strictly prohibited.
Executive Summary
Offering Process
Precision Realty Group has been retained to sell The Merchant
Building, the best corner in the Borough of West Chester. This
26,710 SF (plus full basement) mixed-use property is anchored
by Iron Hill Brewery and is 100% leased with long term leases in
place. The Merchant Building is truly the gateway to the Borough
and is irreplaceable real estate with excellent cash flow.
L I S T I N G D E TA I L S Tommy ciccarone [email protected]
610.999.5800
SHAUN LYONS [email protected]
267.707.3347
STEVE JEFFRIES [email protected]
267.707.3327
ASKING PRICE
$8,216,533CAP RATE
6.0%NOI
$492,992PRICE PER SF
$308.00
• “Gateway Corner” to the Borough of West Chester
• 26,710 SF + Basement
• Two Story Building, with full Basement
• Ground Floor Retail
• Single Tenant Office Space
• Elevator
Investment Highlights
• Fully renovated building as of October 4th Quarter, 2019
• Annual Rent Increases
• 6% Rental Increase in Year 3
• Below Market Rent(s)
• Great Tenant Mix
• Long Term Leases
• Well Established Businesses
• Current Tenants
• Iron Hill Brewery: 12,360 SF
• Scoir: 9,600 SF
• Windish: 3,000 SF
• D.P. Dough : 1,750 SF
t e n a n t o v e r v i e w
OWNERSHIP:IRON HILL BREWERY
NO. OF LOCATIONS:20
WEBSITE:WWW.IRONHILLBREWERY.COM
OWNERSHIP:FOOD GUYS, INC.
NO. OF LOCATIONS:43
WEBSITE:WWW.DPDOUGH.COM
OWNERSHIP:SCOIR, INC.
HEADQUATERS:WEST CHESTER, PA
WEBSITE:WWW.SCOIR.COM
OWNERSHIP:WINDISH MUSIC & PRODUCTIONS
HEADQUATERS:WEST CHESTER, PA
WEBSITE:WWW.WINDISHMUSIC.COM
Tommy ciccarone [email protected]
610.999.5800
SHAUN LYONS [email protected]
267.707.3347
STEVE JEFFRIES [email protected]
267.707.3327
Nestled in the heart of the Brandywine Valley just 30 minutes from Philadelphia, downtown West
Chester reflects the small-town charm and cosmopolitan tastes that prompted the Philadelphia
Inquirer to call West Chester “...one of the world’s most perfect small towns.” It is home to a
diverse array of more then 65 restaurants and 75 unique retails shops, boutiques and art galleries.
Hosting over 100 events annually, West Chester brings thousands of visitors and residents to
the downtown area on a regular basis. In 2017, Main Street America recognized it with the Great
American Main Street Award.
a r e a h i g h l i g h t s Tommy ciccarone [email protected]
610.999.5800
SHAUN LYONS [email protected]
267.707.3347
STEVE JEFFRIES [email protected]
267.707.3327
D E M O G R A P H I C S
1 Mile 3 Miles 5 Miles
Est. Population 22,283 57,175 108,678
Average Age 29.4 35.5 38.9
Est. Avg HH Income $92,229 $123,827 $139,185
Est. Total Employees 13,306 32,697 59,398SitesUSA, Inc
top annual events
100ANNUAL EVENTS
OVER
65RESTAURANTS
OVER
60BOUTIQUES
OVER