6710 Haverford Ave
Philadelphia, PA 19151
Golden Farms Supermarket (Key Food) · Retail Property For Sale

Please Consult Listing Agent for Full Offering Memorandum Marcus & Millichap is pleased to exclusively offer, on behalf of ownership, the fee simple interest in this Golden Farms Grocery Store located in the Overbrook Section of West Philadelphia. The tenant is near completion of a self-funded fit out of an attractive 41,142 square foot freestanding building that is situated on 3.75 Acres in the City of Philadelphia. The location is classified at CA-2 Zoning, which is “Auto-Oriented Commercial” which is intended for shopping centers and destinations where a large percentage of customers will arrive by automobile - a rare commodity for an urban in-fill, city parcel. Grand Opening was February 14, 2020. The tenant, Golden Boys Group 3, Inc., is subject to a brand new 10-year NN lease with 2.5% annual increases in both the base term and three, five-year option periods. The only landlord responsibility is Roof & Structure and the offering includes a 20-year roof warranty with 12 years remaining. The lease has a personal guarantee by Pedro Goico, the operator, as well as his operating company, Golden Boys Group 3, Inc. The tenant’s distributor, Key Food, is a grocery cooperative with several brand concepts and over 250 locations combined. This location will be branded as a ‘Golden Farms Supermarket.’ Located in the Overbrook Section of West Philadelphia near City Avenue, the site benefits from a strong population density of over 753,925 people in a 5-mile radius with nan average household income of $76,828. Rare to an urban infill site, the property has 185 parking spaces attracting not only local foot traffic and bus traffic, but also accommodating community members with vehicles. While the tenant is not required to provide store sales and the location has not yet opened, the positioning within the dense community with limited competition, along with the sale of beer and wine, as recently allowed by Pennsylvania legislature, the store is expected to perform extremely well.