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Geat-Ju Buys Landmark Main Line Hardware Store

ARDMORE, PA-The 42,581-sf former Smith Supply complex at 110-120 West Lancaster Ave. here is Geat-Ju's second hardware facility acquisition in a month. The sale price was $3.2 million, or about $75.15 per sf.

By Marita Thomas | Updated on November 24, 2003

ARDMORE, PA-Robert W. Smith sold the 42,581-sf former Smith Supply complex at 110-120 West Lancaster Ave., here for $3.2 million, or about $75.15 per sf. Smith has operated a specialty hardware, tool and supply business at that location since 1950.

The buyer, Geat-Ju Corp., a Philadelphia-area-based private real estate investor/developer partnership, has long-term plans to refurbish the property. This is Geat-Ju’s second hardware property acquisition in less than a month. In late October it acquired National Hardware’s 24,800-sf former headquarters in Philadelphia’s Old City neighborhood for approximately $1.8 million, or about $74 per sf.

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