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October 22, 2024 12:00 PM

�ǿ�����app����^[1] announces it has completed the $59 million sale and financing of 6250 Baltimore Avenue—a 450,000-square-foot industrial building located in Philadelphia, Pennsylvania. The 96% occupied asset traded from the seller, an affiliate of Velocity Venture Partners, to an undisclosed buyer. �ǿ�����app���� was the sole broker on the transaction, with Managing Director Ryan Guittare leading the team’s efforts.

“This transaction shows the demand for well-positioned industrial facilities with access to key transportation routes and proximity to major residential and commercial centers within the Greater Philadelphia marketplace,�� said Guittare. “The property’s recent renovation and 96% occupancy underscore its appeal and stable income stream. We congratulate all parties on this transaction.��

6250 Baltimore Avenue is a small-bay in-fill industrial property in Delaware County, an in-demand submarket of Philadelphia with a high barrier to entry due to its low vacancy rates. The property offers a stabilized, cash-flowing, multi-tenant asset, a strategic advantage for investors given its proximity to the infrastructure and population bases of Philadelphia and Southern New Jersey.

According to �ǿ�����app���� Research, the industrial vacancy rate in Delaware County is just 5.6%, well below the Greater Philadelphia vacancy of 7.6%.

In addition to its desirable location, the property boasts a high-quality tenant roster including SEPTA, Peak Supply Solutions and Beacon Roofing Supply, and structural features such as 24-foot clear ceiling height, more than 80 loading docks, and truck court depth of 125 feet with secure outdoor storage space and trailer parking.

�ǿ�����app���� Executive Managing Director Jim Badolato and Associate Adam Rudman, of the firm’s Philadelphia-based Debt & Structured Finance group, secured acquisition financing on behalf of the buyer. �ǿ�����app���� Analyst John Cook provided support on the transaction.

[1] Dba �ǿ�����app���� Real Estate in Pennsylvania

About �ǿ�����app����
�ǿ�����app���� Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“�ǿ�����app������), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. �ǿ�����app����’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, �ǿ�����app���� provides superior service to clients across the industry spectrum. For the year ended December 31, 2023, �ǿ�����app���� generated revenues of approximately $2.5 billion. As of June 30, 2024, �ǿ�����app����’s company-owned offices, together with its business partners, operate from approximately 170 offices with 7,800 professionals around the world. To learn more, visit nmrk.com or follow .

Discussion of Forward-Looking Statements about �ǿ�����app����
Statements in this document regarding �ǿ�����app���� that are not historical facts are “forward-looking statements” that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. These include statements about the Company’s business, results, financial position, liquidity, and outlook, which may constitute forward-looking statements and are subject to the risk that the actual impact may differ, possibly materially, from what is currently expected. Except as required by law, �ǿ�����app���� undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see �ǿ�����app����’s Securities and Exchange Commission filings, including, but not limited to, the risk factors and Special Note on Forward-Looking Information set forth in these filings and any updates to such risk factors and Special Note on Forward-Looking Information contained in subsequent reports on Form 10-K, Form 10-Q or Form 8-K.