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Colliers Weitzman Arranges Sale of Iconic Ferrari Philadelphia Property

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PHILADELPHIA, PA November 14, 2022 – Rich Weitzman, a Senior Vice President with Colliers, recently arranged the sale of 1227 and 1234 Lancaster Avenue in Bryn Mawr, PA, better known as Ferrari Philadelphia. The property was purchased by an affiliate of the Piazza Auto Group (PAG), one of the largest dealer groups in the United States.

The sale included a 36,314 SF, four-story auto sales and service building at 1234 Lancaster Ave, and a 4,997 SF, single-story auto-repair building directly across the street at 1227 Lancaster Ave. The PAG affiliate purchased the property from an affiliate of RDS Automotive of Newtown Square, PA.


For more information, contact:  
Rich.Weitzman@colliers.com  | +1 215 928 7551


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About Colliers International
Colliers International (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. With operations in 67 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to real estate occupiers, owners and investors. For more than 25 years, our experienced leadership with significant insider ownership has delivered compound annual investment returns of almost 20% for shareholders. With annualized revenues of $3.0 billion ($3.3 billion including affiliates), with $40 billion of assets under management, we maximize the potential of property and accelerate the success of our clients and people. Learn more about how we accelerate success at corporate.colliers.com, Twitter @Colliers or LinkedIn

 

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Rich Weitzman

Senior Vice President | Philadelphia

Philadelphia

Rich joined Colliers International in 2011. He has 23 years of retail real estate brokerage and development experience with significant automotive project specialization. His responsibilities include marketing, strategy implementation, coordination and review of market research with a special emphasis on financial analysis and leading lease review/negotiations. His well-developed technical knowledge of the real estate process gives him a broad understanding of the important principles that must be incorporated into a transaction.

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