Portfolio Closing: El Limon

Royersford, PA, December 15th, 2023 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research, and advisory services, announced today the sale of El Limon, a 5,504-square-foot Net-Leased property located at 451 W Ridge Pike, Royersford, PA, according to the regional manager of the firm’s Philadelphia office. The asset sold for $800,000. 

Derrick Dougherty and Scott Woodard, investment specialists in Marcus & Millichap’s Philadelphia office, had the exclusive listing to market the property on behalf of the seller, a private equity group based in Pennsylvania. “El Limon is one of the best Mexican Restaurants in the Philadelphia MSA. The quality of food never disappoints and it’s consistently in my family’s rotation on a monthly basis," said Derrick Dougherty.

“Royersford is a wealthy and dense submarket that continues to show growth. This was a rare opportunity for El Limon to acquire their building for below replacement costs with a value-add component on the second floor," said Scott Woodard.

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About Marcus & Millichap (NYSE: MMI) 

 

Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research, and advisory services with offices throughout the United States and Canada. As of December 31, 2021, the company had 1,994 investment sales and financing professionals in 82 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting, and advisory services to clients. Marcus & Millichap closed 13,255 transactions in 2021, with a sales volume of approximately $84.4 billion. For additional information, please visit www.MarcusMillichap.com.