REBusinessOnline

GROUND LEASE SELLS FOR $2.81 MILLION

COATESVILLE, PA. — A 14,000-square-foot ground lease, located at 800 East Lincoln Highway in Coatesville, has been sold for $2.81 million in an off-market transaction. Walgreens Pharmacy recently signed a 25-year ground lease for the site and the previously existing 14,000-square-foot building has been demolished to make way for the construction of the pharmacy. The buyer, a charitable trust from the Western U.S. acquired the property in a cash transaction. Chris Datz and Anthony Sembello of Pintzuk Brown Realty Group assisted the seller, a partnership lead by Scott Homel, also of Pintzuk Brown Realty Group.

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