The preferred areas, all in PA, are Conshohocken, Plymouth Meeting, King ofPrussia, Springfield, West Chester and Northeast Philadelphia. Forfacilities that meet its long list of requirements, AAA says it will pay between $10per sf and $19 per sf.
It is looking for free-standing, out-posts, or shopping center end-caps onapproximately an acre, with high visibility from a main road, strong trafficcounts, parking for 35 vehicles, and easy ingress and egress. The medianhousehold income of an area should be at least $75,000 a year, and, ideally,there should be 45,000 households within three miles of a facility and 75,000within five miles.
The buildings are required to have 14-foot ceilings, multiple bay doors orthe ability to accommodate the installation of at least two such doors. Theproperties must either be zoned for car repair or provide an opportunity forre-zoning, and there has to be space and zoning available for a largelighted sign.
Studley expects a market-level commission from owners with whom transactionsare completed.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.