May 18, 2018 [Philadelphia, PA] – Colliers International recently concluded two transactions for Alfred and Nancy Cappelli, a long-term Lanard & Axilbund / Colliers client who established A. Cappelli, Jr. Stamps & Hobbies in Old City at 313 Market Street in 1961. They have been investing in commercial real estate throughout center city Philadelphia and other locations.
Recently the Cappelli’s sold 1026 Arch Street, in the Chinatown neighborhood of Philadelphia, for $3.3M. The historic, three-story, 9,000-square-foot building currently houses two tenants: ground floor retail – Action Wellness, and second floor office space. It was sold to a private investor.
In Allegheny County, the Cappelli’s purchased 5554 Steubenville Pike, McKees Rocks, PA for $3.45M through a 1031 Exchange. The 6,480-square-foot building is situated on 2.46 acres. It is occupied by Sheetz, a family owned, strong regional retailer of convenience stores/gas stations. They are a 20-year tenant and will remain.
All inquiries should be directed to Colliers International:
215 928 7519
215 928 7564