PHILADELPHIA, PA--(Marketwire - March 16, 2009) - On behalf of the seller, 54-1K, LP, Binswanger is pleased to announce the sale of an 8,800 sq. ft. building to Citadel Federal Credit Union. The property is located at 522 King Road in Paoli, Pennsylvania. Sale price was $2,995,000.
The property is the former site of the restaurant, Basil. The seller, 54-1K, LP, is a partnership between Martin Grims and Scott Morrison. They plan to focus their brand in alternative markets. Mr. Grims, a well-respected restaurateur, owns many high-profile restaurants in the Philadelphia area including Tango, Nectar, Moshulo, Passerelle and Café Dujor.
The buyer, Citadel Federal Credit Union, will utilize the property as a bank/office building, and will occupy the space at the end of the year.
Headquartered in Philadelphia, Pa., Binswanger is an international full-service real estate organization with offices worldwide throughout the U.S.A., Canada, Mexico and South America, the U.K. and Europe, the Middle East, and Asia.
Contact Information: CONTACT: Ellen Weiss 215-448-6216 215-448-6097 FAX