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Prominent South Street Corner Trades Hands

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PHILADELPHIA, PENNSYLVANIA, April 14, 2021 – Colliers is pleased to announce the sale of 500-502 South Street, a 7,200 square foot three-story commercial building fronting both South Street and Fifth Street.

This prominent corner site has had a longstanding family ownership and reputation as a home to top tenants of the South Street community. T-Mobile, the Gap and Grendel’s Lair in the 1970’s have all once called the location home.

The transaction was facilitated by Michael Barmash, a Senior Managing Director of Colliers, representing the Seller.  The Buyer, a New York entity, proactively sought a South Street location, attracted to the storied retail, restaurant, residential and business corridor and its unique confluence to the dense and demographically rich neighborhoods of Society Hill, Bella Vista, Queen Village and Washington Square. Plans are to redevelop the building with a mixed use consisting of new apartments and retail.


Media Contact:

Elizabeth Brand
Director of Marketing, Greater Philadelphia Region
Elizabeth.Brand@colliers.com
215-928-7582

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About Colliers

Colliers (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) and $40 billion of assets under management, we maximize the potential of property and accelerate the success of our clients and our people. Learn more about how we accelerate success at corporate.colliers.com, Twitter @Colliers or LinkedIn. 

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Related Experts

Michael Barmash

Senior Managing Director | Philadelphia

Philadelphia

Michael joined Colliers in 1973.  He has been involved in the leasing and sale of industrial, office and retail real estate in the tri-state area, particularly in the Philadelphia CBD.

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