Two prime commercial properties in Fishtown with redevelopment potential recently fetched a combined $17.2 million in a recent sale, writes Paul Schwedelson for the Philadelphia Business Journal.
The site that is home to Other Half Brewing sold for $10 million, while an industrial property located at 53-67 Laurel Street went for $7.2 million. The adjacent properties were acquired by different limited liability companies with the same address in Old City.
The two sites, situated between I-95 and Delaware Avenue and close to The Fillmore and Brooklyn Bowl, are in a CMX-3 zone. This allows for a variety of residential and commercial uses. Together, the two sites cover about 1.7 acres.
The industrial property includes a surface lot and a vacant 13,000-square-foot warehouse and was listed for sale in March 2024 for $8.5 million.
According to Jim Roche of Keller Williams, who had the listing, the site alone could fit over 200 residential units along with a ground-floor commercial space.
The redevelopment potential only increases when the neighboring parcel — which includes the 8,000-square-foot brewery and taproom with a large outdoor seating area — is added.
Read more about the sale of two Fishtown properties and their redevelopment potential in the Philadelphia Business Journal.
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