June 14, 2019
JLL Capital Markets has been retained by Grand Street Development and Kamson Corp. to market what is reportedly the largest development opportunity available in Philadelphia’s rapidly evolving Fishtown neighborhood.
The two-acre site at 2621-2667 Frankford Ave., within an Opportunity Zone, was previously occupied for many years by the local Woods Brothers Building Materials company. It holds nearly 450,000 buildable square feet of air rights, with plans in place for a mixed-use project containing 525 apartments and ground-floor retail.
Bob Knakal is leading a JLL team of Brendan Maddigan, Stephen Palmese, James Galbally, Ethan Stanton, Colin Behr and Patrick Madigan. Vice chairman Keith Kurland will consult on debt and equity options.
“This unique offering presents an investor with an opportunity to get in on the early phase of a vibrant and rapidly changing neighborhood in Philadelphia,” said Knakal. “The Philadelphia market has captured the attention of major developers, and 2621-2667 Frankford is a standout site.”
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