PA Picks – Commercial Properties with a Development Bonus
November 24th, 2014 by Ori KleinInterested in finding a place to run your next business operation? Then peruse our picks this week on commercial properties with plenty of opportunity for redevelopment.
Check out AuctionAdvisors’ lender-ordered REO commercial property with redevelopment site in Tolland, Connecticut. Known as “Gooseberry Corners”, this 19,912sf income-producing office/retail building sits on two contiguous lots encompassing a total of 5.94 acres of land. This property holds several office, retail and light industrial buildings that generate revenue. PA is picking this one for its prime location, just off busy Route 195 in the Gateway Design District. Auction date is December 10th.
Another optimal find is Bid4Assets’ 35,650sf commercial building in Reading, Pennsylvania. Standing at 3 stories plus a basement on a .47 acre lot, this brick building exhibits an open floor plan with high ceilings. Ideally located close to Downtown Reading, this property is just 2 blocks from Sovereign Center and Santander Arena. PA digs this one for its endless redevelopment potential, where the building offers a variety of uses including apartments/loft-type apartments, offices, manufacturing, warehouse, storage and distribution. Online auction ends December 3rd.
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