63,000 SF Industrial Building Philadelphia, PA

An industrial facility in the mixed-use Northern Liberties neighborhood of Philadelphia was to be liquidated by the trustee for bondholders. AthenianRazak was engaged to manage and sell the property. We researched property values and redevelopment potential for this unusual property in a changing neighborhood, and projected re-use scenarios based on up-dated market conditions, including residential, commercial, and mixed uses. This research showed that development potential supported property values well in excess of the current appraisal.

AthenianRazak was then able to arrange the sale of the property at approximately three times the property’s appraised value.