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
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