NKF Represents Seller in Sale of 212 Church Road in Upper Gwynedd Township

Wayne, PA (July 19, 2017) — Newmark Knight Frank (NKF) announced today that Neil Shupak and Justin Bell, of NKF’s suburban Philadelphia office, represented the seller, Patriarch VIII, LP, a part of Patriarch Management, LP in the sale of 212 Church Road for $3,700,000. The 94,000 square foot one-story building is situated on 8.5 acres adjacent to the Pennbrook Business Center. Gorman & Company, the new owner, has plans to convert the building into a high-end, climate controlled self-storage facility. The building’s attractive exterior façade, large parking field, ceiling height and proximity to a densely populated residential market make it ideal for a conversion to self-storage.

Patriarch Management, the seller, owns several other buildings in and around the Pennbrook Business Center, including the building next door that the previous tenant of 212 Church Road, ICON Clinical Research, now occupies. In addition, Patriarch owns high-end office, warehouse, a neighborhood convenience center and multifamily communities in Pennsylvania.

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