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840 West Lancaster Avenue DEVON, PENNSYLVANIA Rare Retail Opportunity For Sale/Lease Confidential Offering Memorandum 840 West Lancaster Avenue DEVON, PENNSYLVANIA 840 W. LANCASTER AVENUE | OFFERING MEMORANDUM Table of Contents > PROPERTY OVERVIEW OFFERING PROCEDURE Lease Summary .................................................................................................................. 3 Offers may be submitted at any point during the marketing process, although a deadline for offers Property Summary .............................................................................................................. 4 may be established at a later date. All submissions Local Map ............................................................................................................................ 5 must be emailed to the listing agent. In addition to the Aerial Photo ......................................................................................................................... 6 terms of an offer, the Owner and Colliers nternational will give consideration to the demonstrated ability of Property Photos .................................................................................................................. 7 the purchaser to complete the transaction. Offers Floor Plans .......................................................................................................................... 8 should be in the form of a non-binding letter of intent Building Elevations .............................................................................................................. 10 specifying at least the following: • Offered Price • Earnest Money Deposit(s) > MARKET OVERVIEW • Study Period (if any) Market Analysis ................................................................................................................... 12 • Contingencies (if any) Demographic Analysis ......................................................................................................... 19 • Time of Closing • References • List of Real Estate Owned • Sources of Funds (Equity and Debt) CONTACT Inspections will be arranged by appointment only with the Exclusive Agents: TODD SUSSMAN JOHN WILSON SENIOR VICE PRESIDENT VICE PRESIDENT | INVESTMENT +1 215 928 7575 +1 717 736 8725 [email protected] [email protected] COLLIERS INTERNATIONAL Ten Penn Center 840 W. LANCASTER AVENUE | DISCLAIMER 1801 Market Street, Suite 500 Materials contained in this Investment Offering are confidential, furnished solely for the purpose of considering the “AS IS” quisitionac of 840 W. Lancaster Philadelphia, PA 19103 Avenue, Devon, PA described herein and are not to be used for any other purpose or to be made available to any other person without the express written consent of Colliers International and Owner. No representations, expressed or implied are made as to the foregoing matters by Owner, Owner’s property www.colliers.com/philadelphia management/ leasing agent, Colliers or any of their officers, employees, affiliates and/or agents. See page 33 for full confidentiality and disclaimer statement. 840 W. LANCASTER AVENUE | OFFERING MEMORANDUM 840 W. LANCASTER AVENUE | DEVON, PA PA | DEVON, AVENUE LANCASTER 840 W. | PROPERTY OVERVIEW | PROPERTY Property Overview Lease Summary Property Summary Regional Map Local Map Aerial Photo Property Photos Floor Plans Building Elevations PROPERTY OVERVIEW Lease Summary UNIT MIX LARGEST EMPLOYERS - PHILADELPHIA UNIT COUNT UNIT TYPE AVG. SF AVG. RENTS/SF CURRENT EMPLOYER # OF EMPLOYEES SUITE COUNT TYPE TOTAL GLA ASKING RENTS 4 Retail 27,650 $40 Lockheed Martin Corporation 6,030 1 Office 3,600 $35 Sungard 3,153 Saint-Gobain Crystals 3,000 Mds Pharma Services (US), Inc. 2,871 COMMERCIAL Sunoco Partners LLC 2,250 Tenant Name Type Suite SF % Bldg Share Vacant Salon/Spa Retail 1A 10,000 32.00% S A Trinseo 2,179 Vacant Restaurant Retail 1B 10,000 32.00% Vanguard Group Inc. 2,021 Vacant Restaurant Retail 1C 4,250 13.60% Matrix Integrated Facility MGT 2,000 Vacant Retail Retail 1D 3,400 10.88% Villanova University 2,000 Vacant Office Office 1E 3,600 11.52% Main Line Hospitals Inc. 1,709 Subtotal Retail 27,650 88.48% Gdi Services Inc. 1,700 Subtotal Office 3,600 11.52% Total 31,250 Sap America Inc. 1,700 DEMOGRAPHICS 1-MILE 3-MILES 5-MILES 2015 Estimate Population 9,992 47,660 124,745 2010 Census Population 9,830 47,138 123,190 2015 Estimate Households 4,052 18,032 47,969 2010 Census Households 3,979 17,750 47,163 Median Household Income $92,247 $109,143 $97,241 Per Capita Income $56,313 $62,738 $56,837 Average Household Income $138,707 $163,939 $145,579 840 W. LANCASTER AVENUE | OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 3 PROPERTY OVERVIEW Property Overview Property Highlights Colliers International is pleased to present for lease a free-standing retail/ • Rare Opportunity on the Main Line office property off of Lancaster Avenue (Route 30) in the heart of Devon, • Located on a Hard Signalized Corner Directly Across from Devon Pennsylvania. This offering is a rare opportunity for a user to occupy a Village - a Whole Foods Anchored Shopping Center - with Daily Traffic freestanding building on the prestigious Main Line. Counts of 24,000+ The building is 32,000 square feet on 1.89 acres of land. The property was • Parking ratio of 4:1,000 Square Feet built in 2001, originally on eight parcels of land combined into one by the • Retail Salon/Spa Space Includes Existing Equipment - Move-In Ready property owner. The property boasts 128 parking spaces with parking available under the property. The property is zoned C-1 in Tredyffrin Town- • Retail Restaurant Space Includes Existing Restaurant Fixtures and ship, which allows building heights of up to 42 feet, this would allow another Kitchen Equipment - Move-In Ready two stories to be added. • Average HH Income of $100,000 Within 1-Mile of the Property Both buildings are move-in ready with all restaurant, salon and spa fixtures and equipment included in the sale. The North building has an operating elevator with access to all floors including the lower level parking. 840 Lancaster Avenue sits on a hard signalized corner directly across from Devon Village, a Whole Foods anchored shopping center with more than 24,000 cars passing daily. The property’s cross streets are Lancaster Avenue (Route 30) and Berkley Road. Less than 0.3 miles East of the property is Devon Square, an Acme and K-Mart anchored shopping center. Also less than 0.3 miles from the property is The Courtyard Marriott of Devon, BMW of Devon, Home Properties of Devon Apartments - with over 630 apartments, and the Devon Horse Show & Country Fair an internationally recognized event in operation for over 120 years. With less than a 1-mile walk to the Septa Train Station Paoli/Thorndale line, four bus stops - one at Lancaster Avenue/Berkley Road intersection - within walking distance, and easy access to I-76, I-476, the PA Turnpike/I-276, and Route 202 the property is highly benefited by public transportation. 840 W. LANCASTER AVENUE | OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 4 PROPERTY OVERVIEW Local Map 840 W. LANCASTER AVENUE | OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 5 PROPERTY OVERVIEW Aerial Photo STRAFFORD STATION DEVON STATION EAGLE VILLAGE SHOPS LANCASTER AVE WAYNE STATION LANCASTER COUNTY FARMERS MARKET 840 W. LANCASTER AVENUE | OFFERING MEMORANDUM COLLIERS INTERNATIONAL P.6 PROPERTY OVERVIEW 840 W. LANCASTER AVENUE | OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 7 PROPERTY OVERVIEW 840 LANCASTER AVE Ground Floor Plan HIGHLIGHTED GROUND FLOOR PLAN 840 W. LANCASTER AVENUE | OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 8 16 PROPERTY OVERVIEW 840 LANCASTER AVE Second Floor Plan HIGHLIGHTED SECOND FLOOR PLAN 840 W. LANCASTER AVENUE | OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 9 17 PROPERTY OVERVIEW 840 LANCASTER AVE Elevations BUILDING ELEVATIONS 840 W. LANCASTER AVENUE | OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 10 18 840 W. LANCASTER AVENUE | DEVON, PA PA | DEVON, AVENUE LANCASTER 840 W. | PROPERTY OVERVIEW | PROPERTY Market Overview Market Analysis Demographic Analysis MARKET OVERVIEW Philadelphia Overview Geography The Philadelphia metro encompasses 11 counties in four states and covers nearly 5,000 square miles. The Delaware River bisects the metropolis from northeast to southwest and serves as the border between Pennsylvania and New Jersey. The Schuylkill River passes through the heart of Philadelphia, separating West Philadelphia from Center City. Steady Job Growth Local employment is expected to expand by 1.3 percent annually through 2020. Highly Educated Workforce Philadelphia has one of the highest concentrations of institutions of higher learning in the nation. Expanding Health Sciences Sector The metro is a major pharmaceutical, medical and biosciences center. 840 W. LANCASTER AVENUE | OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 12 MARKET OVERVIEW Philadelphia Overview Metro The Philadelphia metro contains more than 6 million residents and spans Philadelphia, Delaware, Bucks, Chester and Montgomery counties in Pennsylvania; Gloucester, Burlington, Camden and Salem counties in New Jersey; New Castle County in Delaware; and Cecil County in Maryland. Although the metro has more than 360 municipalities, few have more than 25,000 citizens. Infrastructure Philadelphians have access to a wide variety of transportation modes. Interstate 95 connects Philadelphia to both New York City and Washington, D.C., and Interstate 76 links the region to Pittsburgh and Cleveland and serves as the primary commuting
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