January 18, 2017 10:29 ET
PHILADELPHIA, PA--(Marketwired - January 18, 2017) - Rittenhouse Realty Advisors is pleased to announce the sale of a development site located at 122-124 South 11th Street in the Midtown Village/Washington Square West neighborhood of Center City, Philadelphia. The property is located directly across from Jefferson University Hospital and was the site of the Midtown II Restaurant since 1974.
"This is an amazing retail location across the street from Jefferson University Hospital. The new owner plans on putting in a high-end restaurant to capture the business of the large workforce at the hospital," stated Ken Wellar, Managing Partner of RRA.
The property was highly desirable because of the attractive CMX-5 zoning in this popular Center City sub-market. Mark Duszak, Director at RRA, added: "It attracted prospects from Washington, D.C. to New York City and our team was able to close the transaction in 10 days after a signed agreement of sale."
For more information on current rates or to view our available listings visit www.RittenhouseRealty.com.
Based in Philadelphia, Pennsylvania, Rittenhouse Realty Advisors is a real estate advisory firm with an extensive focus in the brokerage of multi-family communities throughout the northeast region of the United States. Formed in February 2013 by a group of advisors with more than 30 years of commercial investment sales experience, our focus is on multi-family and mixed-use properties with significant residential components.
Corey Lonberger and Ken Wellar