4670 ROOSEVELT BLVD, PHILADELPHIA, PA - LoopNet
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4670 ROOSEVELT BLVD, PHILADELPHIA, PA CONFIDENTIAL OFFERING MEMORANDUM
TABLE OF CONTENTS
4670 Roosevelt Blvd, Philadelphia, PA 19124
FOR ADDITIONAL INFORMATION,
3
PLEASE CONTACT:
BRAD NATHANSON LIOR REGENSTREIF PROPERTY OVERVIEW
Senior Managing Director Senior Managing Director of
Capital Markets Investments
+1 215 531 7005 +1 818 212 2730
9
bnathanson@ipausa.com lior.regenstreif@marcusmillichap.com
License: PA: RS278775 License: CA: 01267761
LOCATION OVERVIEW
DEAN ZANG MICHAEL HELPERN
Executive Managing Director Debt & Structured Finance
+1 202 536 3754 +1 212 430-5205
dean.zang@marcusmillichap.com mhelpern@ipausa.com
License MD: : 665335
License VA: 0225239201
2005 Market Street, Suite 1510
Philadelphia, PA 19103
www.marcusmillichap.com
© 2020 Marcus & Millichap. All Rights Reserved.
2 C H I C K-F I L-A AT NOR THEAS T TOWER CENTER
I NVE S TMENT O F F E R IN G
Marcus & Millichap exclusively offers for sale a trophy ground lease
with Chick-fil-A on a pad site to Northeast Tower Center located
in Philadelphia, Pennsylvania. Constructed in 2016, Chick-fil-A
has approximately 16 years remaining on a 20 year ground lease
with attractive 10% rental increases every five years. Chick-fil-A
operates more than 2,300 restaurants in the United States, third
largest fast-food operator in the country, and has over $11 billion
in revenue, remaining as one of the only fast food operators that
remains private and all corporate leases. The average Chick-
fil-A remains in the $4.6 million dollar range which is more than
double to what an average McDonalds does in volume.
The pad is situated fronting the Roosevelt Boulevard, a twelve-
lane main artery within the city limits, with traffic counts exceeding
93,000 cars per day. Chick-fil-A is at the entrance to Northeast
Tower Center, a 500,000 square foot shopping center anchored
by the number one Home Depot in Pennsylvania performing in
excess of $100 million in sales and Walmart. Additional tenants
include Ross, Petsmart, Old Navy, DD’s, and Staples.
The shopping center has been a staple in Northeast Philadelphia
since 1996 with very little turnover, historically averaging close
to 20 years on its tenancy. The Chick-fil-A came in as part of
an expansion with a neighboring strip center occupied by Panda
Express, Xfinity, and AM Best. The tenants at Northeast Tower have
some of the best sales overall in the greater Philadelphia MSA.
With only four restaurants servicing Northeast Tower, Chick-fil-A
stands to benefit from the draw of a very successful shopping
center on the most traveled highway within Philadelphia proper.
3 C H I C K-F I L-A AT NOR THEAS T TOWER CENTER
EXECUTIV E SU M MARY
Property Overview Philadelphia Major Employers
GLA 4,946 SF COMPANY INDUSTRY EMPLOYEES
Price $3,750,000 Thomas Jefferson Health System Healthcare 24,700
Year Built 2016 University of PA Health System Healthcare 20,200
Lot Size .883 Acres
Comcast Corporation Media & Tech 15,000
Zoning CMX-3
Net Operating Income Children's Hospital of Philadelphia Healthcare 14,996
$143,000
Cap Rate 3.81% Chubb International Insurance 9,680
Financing Free and Clear Wells Fargo Bank Banking 7,000
Parking 43 Spaces Independence Health Group Insurance 7,000
Parking Ratio 8.7:1
Glaxosmithkline Pharmaceutical 4,500
Defense Personnel Support Government 3,539
2020 Demographics
Philadelphia Media Network Newspapers 3,500
1 Mile 3 Miles 5 Miles
Aramark Food Service 3,000
2020 Population 44,742 433,071 886,696
Urban Outfitters, Inc. Clothing 3,000
2020 Households 14,393 148,095 320,552
2020 Average HH Income $51,905 $51,541 $56,977
2020 Daytime Population 29,688 296,550 681,190
REN T ROL L
TENANT SQUARE LEASE TERM RENTAL RATES LEASE OPTIONS
NAME FEET BEGIN END BEGIN PSF ANNUALLY TYPE AVAILABLE DATE PSF ANNUALLY COMMENTS / OPTIONS
Chick-fil-A 4,927 Apr-2016 Apr-2036 Current $29.02 $143,000 Absolute Net 8x5 Option 1 $38.63 $190,333 Owner will credit back to
Apr-2026 $31.93 $157,300 Option 2 $42.49 $209,366 purchaser the difference from
COE until April 2021 the monthly
Apr-2031 $35.12 $173,030 Option 3 $46.74 $230,303
rental increase of $1,083.33
Option 4 $51.42 $253,333
Option 5 $56.56 $278,667
Option 6 $62.21 $306,533
Option 7 $68.44 $337,187
Option 8 $75.28 $370,905
4 C H I C K-F I L-A AT NOR THEAS T TOWER CENTER
I NVE S TMENT HIGHL IG H T S
SHADOW ANCHORED BY 500,000 SF CENTER WITH ◉ 84% of the overall gross leasable area of Northeast Tower
Center has been a tenant at the property for at least fifteen
CONSISTENT PERFORMING GLOBAL RETAILERS HOME years, speaking to the stability and performance of the
DEPOT AND WALMART, SOME OF THEIR BEST PERFORMING retailers
LOCATIONS WITHIN THE REGION AND STATE
85 M+
STORE SALES
3 RD
HIGHEST VOLUME
(NON-SUPERCENTER) STORE IN DISTRICT OF 9
◉ Hyper Urban Infill Location with over 433,000 people within
2,800,000
three miles, located approximately 6.5 miles north of Center
COMPLETE City Philadelphia
INTERIOR
REMODEL IN 2016 ESTIMATED NUMBER OF VISITS PER YEAR
◉ Positioned next to major employers Cardone Industries
Headquarters (5,000 employees) and Naval Support Activity
Campus (5,200 employees – 2.25 million square feet) as well
as the newly build Samuel Fels High School
◉ Temple University, the second largest university in
Pennsylvania with over 40,000 students, is located just four
miles south off of Route 611, providing for the closest regional
SHADOW-ANCHORED
shopping center for the students.
100 M #1
STORE SALES
STORE IN DISTRICT
RANKS #25 IN CHAIN &
1,500,000
ESTIMATED NUMBER OF VISITS PER YEAR
5 C H I C K-F I L-A AT NO RTHE AS T TOWER CENTER
L EA S E A B ST R ACT
CHICK-FIL-A
Cam, Insurance Fixed CAM annual contribution (every 1/1) for lease years 1-5 is $500 and increases by 10% every five years to the main shopping center. Absolute
Net Ground Lease where tenant self-maintains
Taxes Tenant pays 100% of real estate taxes assessed upon the premises (Chick-fil-A parcel a/k/a 4670 E. Roosevelt Blvd) directly to the Dept. of Revenue
for the City of Philadelphia
Management Fee None
Guarantor Corporate - Chick-fil-A, Inc.
Exclusive (i) No restaurant will be permitted on any portion of the Adjoining Property unless the restaurant independently maintains a parking ratio of the number
of spaces required by law without a variance. In addition, no restaurants can be located in the building designated on Exhibit B as ""Restricted Building"",
except as follows: (1) any restaurant in the Restricted Building shall be fast food or ""fast casual"" only, with no waiter or waitress service and no drive-
through or drive-up service permitted, (2) the total square footage of restaurants in the Restricted Building shall not exceed 3,500 in the aggregate
and (3) any restaurants shall be located in the 3,500 square feet of the northern-most portion of the Restricted Building (farthest away from the Land).
(ii) No portion of the Adjoining Property will be leased, used or occupied as a fast food restaurant selling or serving chicken as a principal menu item (the
""Chicken Restriction"") ""a fast food restaurant selling or serving chicken as a principal menu item"" means a fast food restaurant deriving 25% or more of its
gross sales from the sale of chicken. Tenant makes an exception to the aforementioned Chicken Restriction solely in respect to a Panda Express Restaurant
doing business in the Restricted Building in the northern-most ""end cap"" position of the Restricted Building (which space will be counted towards the 3,500
square foot limitation in (i) above). The specific exception will not be deemed to apply to any other agreement entered into by Tenant or waive any of its rights.
(iii) No portion of the Adjoining Property will be leased, used or occupied by or for any of the following uses: McDonald's, Wendy's, Arby's, Boston
Market, Kenny Roger's, Kentucky Fried Chicken, Popeye's, Church's, Bojangle's, Mrs. Winner's, Carl's Jr., Hardee's, In N Out Burger, Chicken Out,Willie
May's Chicken, Biscuitville, Zaxby's, Ranch One, El Polio Loco, Koo Koo Roo, Polio Campero, Polio Tropical, Charo Chicken, Raising Cane's. Chester's or
Bush's Chicken.
Go Dark If Tenant ceases to operate for business for a period in excess of 18 consecutive months, LL will have, as its sole remedy, the right to terminate the
Lease upon providing 30 days written notice
ROFR None
Assignment/Sublease "Tenant may assign the lease or sublet all or part of the Premises without LL’s consent, but upon giving LL a written notice within
30 days after transaction. Tenant continues to remain liable for all of its obligations under the Lease. Notwithstanding the foregoing, if
Tenant assigns the Lease to an entity with a net worth of $50,000,000.00 or greater, then on the date of the assignment Tenant will be released
from any and all liability from and after the date of assignment.”
Co-Tenancy None
Sales Kickouts/Termination Rights None
Sales Reporting/Percentage Rent None
Provisions
Cap-Ex and Repairs HVAC: Tenant is responsible to maintain and repair HVAC.
Roof: Tenant is responsible to repair and replace.
Parking Lot: Tenant is responsible to maintain and repair.
Option Notice 12 months prior written notice to LL; 1st option due 4/30/2035
6 C H I C K-F I L-A AT NO RTHE AS T TOWER CENTER
C H ICK-F IL-A TE NANT PRO F I L E
2,300
LOCATIONS IN THE UNITED STATES
11 B
IN REVENUE
4.6 M 3 RD LARGEST FAST-
FOOD OPERATOR
IN THE COUNTRY
AVERAGE STORE REVENUE
(DOUBLE MCDONALDS VOLUME)
7 C H I C K-F I L-A AT NO RTHE AS T TOWER CENTER
N O R T H EA S T TOWER CEN TER S ITE PL AN
Existing
Power Plant
Hair Buzz
1
2 3
8 9 10
4 5 6 7 11 12 13
1,550 SF
Whitaker Avenue
22
23
24
Firehouse Foulkrod Street
25
17
16
19 Seafood
15
Palace 14
Buffet
Langdon Street
18
20
21
Roosevelt Boulevard
Adams 1
Avenu
e
PHIL ADELPHIA CENTRAL
BUSINESS DISTRICT
6.5 Miles from
the Property
193,187 22% INCREASE
71, 10 0 23,385
SINCE 2010
40,031 STUDENTS
RESIDENTS NEW JOBS SINCE 2009 RESIDENTIAL UNITS
305,500
15,100
2018
WAGE AND SAL ARIED
POSI TIONS IN CENTER
NEW JOBS ADDED CIT Y PHIL ADELPHIA
ADAMS AVE
INTERSECTION
- 19,000 VPD
E ROOSEVELT BLVD - 93,000 VPD
W
HI
TA
KE
R
AV
E
-1
7,3
50
VP
D
NORTHEAST
TOWER CENTER SOURCE : CE NTE RCIT YPHIL A.ORG
9 C H I C K-F I L-A AT NOR THEAS T TOWER CENTER
C ENTE R CI T Y P HIL AD E L PH I A Major Employers COMPANY INDUSTRY EMPLOYEES Thomas Jefferson Health System Healthcare 24,700 University of PA Health System Healthcare 20,200 Comcast Corporation Media & Tech 15,000 Children's Hospital of Philadelphia Healthcare 14,996 Chubb International Insurance 9,680 Wells Fargo Bank Banking 7,000 Independence Health Group Insurance 7,000 Glaxosmithkline Pharmaceutical 4,500 Defense Personnel Support Government 3,539 Philadelphia Media Network Newspapers 3,500 Aramark Food Service 3,000 Urban Outfitters, Inc. Clothing 3,000 10 C H I C K-F I L-A AT NOR THEAS T TOWER CENTER
McDonald’s One and Onley Square Adams Plaza Creighton Charter International Christian Rising Sun Plaza
Schools (K-8) Charter (9-12)
700 Students 120 Students
®
HAIR BUZZ
701 Beds 120 Employees
5,197 Students
Grover Washington
Middle School (5-8)
541 Students
VE 227,500 SF Mixed use
SA facility: office, retail,
116 Rooms DAM church
A WHITAKER AVE
NORTHEAST
TOWER CENTER
100 Acres - 219 Beds 1, 8, J, K, R
ay
hw
ig
H D
ne V
12
La BL
T
EL
V
SE
O
RO
Cardone Industries Inc.
Headquarters
E 1.3 Million sq. ft.
J, K, R
COMBINED TRAFFIC
COUNTS OF OVER
129,000 VPD
11Philadelphia Protestant Oxford House
Naval Support Activity Nursing Home Luxury Apartments 500,000 Residents live in
Philadelphia 600 Beds 207 Units
Northeast Philadelphia
- 134 acre Naval Base
- 2,250,000 Total sq. ft. Passenger volumes entering
- 5,200 Employees
- Consists of office-converted warehouses local SEPTA stations has
for various Naval supply commands increased 78% since 2000
- Living quarters for US Navy Sailors Lawndale Plaza
- Headquarters of Defense Logistics Agency
Samuel Fels High School
988 Students (9-12)
Built in 2009
Thalheimer Brothers LLC
101 Employees
Cardone Industries Inc.
60,000 total sq. ft.
Headquarters
Asian Superstore 1.3 Million sq. ft.
Aria Jefferson Health
855 Beds
NORTHEAST
TOWER CENTER
J, K, R
COMBINED TRAFFIC
COUNTS OF OVER
12 129,000 VPDLOCATION OVE RVIE W
Northeast Tower Center is located in Philadelphia, Pennsylvania within Philadelphia County, the 6th largest city in the United
States with a population of over 1.58 million people. Northeast Tower Center is the closest regional shopping center to
LewisburgmajorDanville
colleges Temple University (5 miles) and La Salle University (3.5 miles).
Hazleton
Jim Thorpe Parsippany-Troy 95
80
Sunbury
15 11 209 Hackettstown Hills The Bronx
Lehighton
9 0 M I L ES TO N EW YO R K C I T Y
Selinsgrove 61
Shamokin Danielsville 46 Morristown Manhattan
54 33 9A
25A
81
St Clair 209 611 280 Newark 295 Queens
New York
287
225 Pottsville Northampton Easton 206 Brooklyn
Schuylkill 309 678
Haven Allentown 27
78
278
Elizabethville 209
Piscataway
78
Kutztown Flemington Edison
476
183 Quakertown
27 36
72 PENNSYLVANIA Perkasie 202 Princeton
95
81 Lebanon Reading 35
Doylestown Long Branch
Harrisburg Hershey
18
Pottstown 33
Camp Hill 76 Freehold
Trenton Asbury Park
Township
Ephrata 422
Elizabethtown Lititz 276 Levittown 195
23
222 King of
New Holland Jackson
Prussia Township Brick
322
Lancaster Intercourse Exton Wayne 76 13
Township
30 Coatesville 611
95
York West Chester Philadelphia Mt Laurel
70
Toms River
30
Township
222 322
NEW JERSEY
1 Chester 206 72
Deptford
74 295
Township
83 Oxford Barnegat
Township
Wilmington Wharton
State Forest
Stafford
Newark Township
New Castle 55 NORTHEAST
322 Long Beach
95 40 TOWER CENTER9
Elkton Island
MARYLAND Beach Haven
Bel Air
24
Aberdeen Hamilton
Vineland Township Galloway
Middletown
Owings Mills695 1 Bridgeton 50
Towson Millville 49 Egg Harbor
13 C H I C K-F I L-A AT NO RTHE AS T TOWER CENTER
Township Atlantic City
70 301
Middle695
RiverTRANS P O R TATIO N IN T H E N O R T H EA S T
The Northeast’s main traffic arteries are Interstate 95 (Delaware Expressway)
and Roosevelt Boulevard (U.S. 1). Roosevelt Boulevard begins at the Schuylkill
Expressway in Fairmount Park, running as a freeway also known as the
Roosevelt Boulevard Extension or the Roosevelt Expressway through North
Philadelphia, then transitioning into a twelve-lane divided highway that
forms the pine of Northeast Philadelphia to its end at the city line. Major
secondary arteries include Cottman Avenue (PA 73), Frankford Avenue
(US 13), Woodhaven Road (PA 63), Grant Avenue, Oxford Avenue (PA-
232), State Road, Bustleton Avenue (PA-532), Bridge Street, Harbison
Avenue, and Academy Road. The Northeast is served by SEPTA’s
Market-Frankford Line, often called the Frankford El” or “the El”
because portions of the rail line are elevated above streets below,
including Frankford and Kensington avenues. The northernmost and
easternmost terminus of the line is at the Frankford Transportation
Center, Frankford Avenue and Bridge Street. Three commuter rail
lines also serve the Northeast. Many SEPTA bus routes and all three
of its trackless trolley routes run through the Northeast. Most
north-south routes terminate at the Frankford Transportation
Center. Nearby Lawndale Station and Cheltenham Station
primarily serve the Lawndale neighborhood in addition to
some residents from Cheltenham, PA and are located just
minutes from Northeast Tower.
14 C H I C K-F I L-A AT NO RTHE AS T TOWER CENTEREDUC ATIO N
Philadelphia’s educational heritage began with the founding of one of the nation’s first universities 20 1 8 -20 1 9 SC H OOL Y E A R
and a world-renowned Ivy League school - The University of Pennsylvania. Today, there are over
E N ROL L ME N T
100 degree granting institutions within 50 miles of Center City Philadelphia, offering the highest
Temple University 40,031
concentration of colleges and universities in the United States and producing over 66,000 new
graduates every year. Twenty-six of them, including the five largest within the region, are located Community College of Philadelphia 26,081
within the City itself. Three major universities (Drexel University, Temple University and the University University of Pennsylvania 25,860
of Pennsylvania) are immediately adjacent to Center City. Business Week recently ranked the
Drexel University 24,190
University of Pennsylvania’s Wharton School of Business the number two business school in the
country. Philadelphia also boasts five medical schools and 26 teaching hospitals. The medical Thomas Jefferson University 7,831
schools include the University of Pennsylvania (the first in the nation), Jefferson, Temple, Drexel St. Joseph’s University 7,589
University College of Medicine, and Philadelphia College of Osteopathic Medicine. Correspondingly,
LaSalle University 5,197
the Greater Philadelphia Region ranks in the top 10 U.S. metros in the number of engineering degrees
obtained per year. University of the Sciences 2,231
University of the Arts 1,900
A recent study from CampusPhilly showed that 67% of students currently studying in Philadelphia
Peirce College 1,833
have an interest in remaining in Philadelphia after graduation, up 15% since 2010.
61%
OF CENTER CITY
RE S I D E N T S H AV E A
BAC H E LO R’ S
D EG RE E O R H I G H E R
LA SALLE UNIVERSITY
15 C H I C K-F I L-A AT NO RTHE AS T TOWER CENTEREDS & MED S
H E A LT H C A R E
One of the nation’s largest concentrations of health care resources is here in Greater Philadelphia. In addition to five medical schools, the region has
two dental schools, three pharmacy schools, veterinary, optometry, and podiatry schools, with multiple area universities offering advanced degrees in
biological sciences. There are more than 120 hospitals in the Greater Philadelphia area including specialized institutions such as Children’s Hospital of
Philadelphia and Wills Eye Hospital. Well-known medical research centers include the Wistar Institute and Fox Chase Cancer Center.
S I N C E 2 0 0 5 , H I G H E R E D U C AT I O N A N D H E A LT H C A R E
EMPLOYMENT IN PHILADELPHIA HAS INCREASED BY 17% AND
NOW PROVIDES 37% OF ALL JOBS IN PHILADELPHIA.
PERCENTAGE OF TOTAL EMPLOYMENT IN
EDUCATION & MEDICINE
PHILADELPHIA
BOSTON
NEW YORK
BALTIMORE
WASHINGTON, DC
10% 15% 20%
#1 LARGEST PRIVATE EMPLOYER 2019
RATED 2ND BEST CHILDREN’S HOSPITAL
In Center City UNIVERSITY AND HEALTH SYSTEM
In The Country
24,700 employees, a substantial increase since acquiring
Philadelphia University in 2017 Source: Center City District, US News, BLS
RANKED #1 FOR BUSINESS, FINANCE, 4TH BEST JOB PLACEMENT RATE RANKED 10th BEST HOSPITAL
REAL ESTATE AND INSURANCE of Nation’s Colleges IN THE COUNTRY
Undergrad Programs Hospitals of the University of Pennsylvania
16 C H I C K-F I L-A AT NO RTHE AS T TOWER CENTERRENDERING FOR TEMPLE UNIVERSITY RECONSTRUCTION COMCAST TOWER
EMP LOYME NT
71,100
2009
Since the recession, starting in 2009, Philadelphia has added 71,100 jobs, 44% of them in just the last
two years. Philadelphia added jobs in 12 of the last 13 years, the longest period of expansion in more
than 50 years. The recovery has been led by education and health services, which account for 56% of NEW JOBS SINCE
the jobs added in industries largely exempt from real estate and business taxes.
Growth occurred across all private sector categories, except manufacturing and financial and
information services. Center City holds 305,500 wage and salaried positions with approximately 9,500
more individuals compensated as partners, self-employed, or working freelance. Located at the center
of the region’s transit and highway network, 47.5% of downtown’s 305,500 jobs are held by commuters
from outside the city; 52.5% are held by Philadelphians with the city. 13,600
IN 2016
Professional, business and financial services, real estate and information account for 40% of downtown
10,600
jobs, occupying 43.5 million square feet of space - including the recent completion of the 1.8
million-square-foot Comcast Technology Center and Aramark’s 600,000-square-foot expansion at
2400 Market Street. Education and health services, the largest sector citywide, is the second largest
downtown with jobs provided by 14 colleges and universities and five hospitals, accounting for 20% IN 2017
of Center City employment. Entertainment, leisure, hospitality and retail provide 16% of downtown
jobs in 354 arts and cultural institutions, 12,283 hotel rooms, 986 retail premises and 468 full-service
restaurants. Federal, state and local government employment provides 12% of Center City jobs.
15,400IN 2018
17 C H I C K-F I L-A AT NO RTHE AS T TOWER CENTERC ENS US D E M O GR AP HI C S
1-MILE 3-MILE 5-MILE
2020 Population - Current Year Estimate 44,742 433,071 874,506
2025 Population - Five Year Projection 45,273 437,703 886,696
POPULATION
2020 Population 25 and Over 27,317 274,828 575,156
Ave HH Size 3.12 2.89 2.66
Median Age of Population 31.3 32.9 34.5
2020 Households - Current Year Estimate 14,393 148,095 320,552
HOUSE-
HOLDS
2025 Households - Five Year Projection 14,550 149,963 326,974
2020 Average Household Income $51,905 $51,541 $56,977
INCOME
H.H
2020 Per Capita Income $16,724 $17,727 $21,244
2020 Median Household Income $37,294 $36,607 $38,831
2020 Owner Occupied Housing Units 56.9% 55.6% 54.4%
HOUSING
2020 Renter Occupied Housing Units 43.1% 44.4% 45.6%
2020 Vacant 6.5% 8.5% 9.6%
2020 Daytime Businesses 687 9,103 21,649
DAYTIME
DEMOS
2020 Daytime Employment 11,518 87,458 220,240
Daytime Population 29,688 296,550 681,190
2020 Total Consumer Spending $253.2M $2.7B $6.1B
EXPENDITURE
2025 Total Consumer Spending $256.9M $2.9B $6.8B
2020 Average Household Consumer Spending $19,797 $19,102 $19,411
2025 Average Household Consumer Spending $21,738 $20,881 $21,197
18 C H I C K-F I L-A AT NO RTHE AS T TOWER CENTERMA JOR LO CAL E M P LOY ER S A DJAC EN T TO N O R T HEAS T TOWER CEN TER
2.25 MILLION
NAVAL SUPPLY DEPOT 37 BUILDINGS
SQ. FT
One of the largest employers in Northeast Philadelphia is the 5,200
134 ACRES
EMPLOYEES
Naval Supply Depot which employs 5,200 and is the single
largest employer in the area. The Naval Support Activity (NSA)
Philadelphia and Philadelphia Navy Yard Annex missions are to
provide operationally ready, secure shore infrastructure built
upon a streamlined shore installation management organization
committed to quality of life to military members and civilian staffs
and quality of community developed through extensive interaction
and involvement with the community. The Support Activity in
Northeast Philadelphia supports 424 on-site tenant organizations.
SAMUEL FELS HIGH SCHOOL CARDONE INDUSTRIES
988 Students attend the newly developed 9-12 High Cardone Industries USA Corporate Headquarters is located behind
School, which sits behind Northeast Tower Center Northeast Tower Center. Cardone Industries, Inc., founded in 1970, is a
leading supplier of automotive replacement parts with 5,000 employees.
Since its beginning over 50 years ago, Cardone has grown from six
employees into the largest
privately-held automotive
parts remanufacturer in
the world.
19 C H I C K-F I L-A AT NO RTHE AS T TOWER CENTERCONFIDENTIALITY AGREEMENT
The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by
the party receiving it from Marcus & Millichap and should not be made available to any other person or entity without the written consent of
Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and
to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough
due diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to
the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of
the property and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and
Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or
any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure
has been obtained from sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the
information contained herein, nor has Marcus & Millichap conducted any investigation regarding these matters and makes no warranty or
representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate
measures to verify all of the information set forth herein. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment
Services, Inc.
© 2020 Marcus & Millichap. All rights reserved.
NON-ENDORSEMENT NOTICE
Marcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package.
The presence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said
corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap,
and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.
ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOUR IPA ADVISOR FOR MORE DETAILS.
SPECIAL COVID-19 NOTICE
All potential buyers are strongly advised to take advantage of their opportunities and obligations to conduct thorough due diligence and
seek expert opinions as they may deem necessary, especially given the unpredictable changes resulting from the continuing COVID-19
pandemic. Marcus & Millichap has not been retained to perform, and cannot conduct, due diligence on behalf of any prospective purchaser.
Marcus & Millichap’s principal expertise is in marketing investment properties and acting as intermediaries between buyers and sellers.
Marcus & Millichap and its investment professionals cannot and will not act as lawyers, accountants, contractors, or engineers. All potential
buyers are admonished and advised to engage other professionals on legal issues, tax, regulatory, financial, and accounting matters, and
for questions involving the property’s physical condition or financial outlook. Projections and pro forma financial statements are not
guarantees and, given the potential volatility created by COVID-19, all potential buyers should be comfortable with and rely solely on their
own projections, analyses, and decision-making.)
20 C H I C K-F I L-A AT NOR THEAS T TOWER CENTER4670 Roosevelt Blvd, Philadelphia, PA 19124
FOR ADDITIONAL INFORMATION, PLEASE
CONTACT:
BRAD NATHANSON
Senior Managing Director
Capital Markets
+1 215 531 7005
bnathanson@ipausa.com
License: PA: RS278775
LIOR REGENSTREIF
Senior Managing Director of Investments
+1 818 212 2730
lior.regenstreif@marcusmillichap.com
License: CA: 01267761
DEAN ZANG
Executive Managing Director
+1 202 536 3754
dean.zang@marcusmillichap.com
License MD: : 665335
License VA: 0225239201
2005 Market Street, Suite 1510
Philadelphia, PA 19103
www.marcusmillichap.com
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