Fairless Hills, Pa. (November 9, 2021) – Fennelly announces it has negotiated the sale of a three-building, 16,000-square-foot daycare facility at 515 S Olds Boulevard in Fairless Hills, Pa. for $950,000. Fennelly’s Jerry Fennelly, SIOR, represented the seller, Gino Ferrante, in the sale to a private buyer.
Situated in eastern Bucks County, 515 S Olds Boulevard is a three-building complex currently configured for use as a daycare center or similar educational usage. The property boasts tremendous visibility, and its 75 parking spaces promise easy accessibility for employees and guests alike.
Having owned the property for nearly 50 years as an investment along with a motorcycle dealership located in nearby Lawrenceville, N.J., Gino Ferrante sought to sell both properties and put the proceeds towards his approaching retirement. While the sale of his motorcycle dealership was executed quickly, a 12,000-square-foot vacancy left by a tenant at 515 S Olds Boulevard made its sale more challenging.
Ferrante recognized Fennelly’s unparalleled expertise in the eastern Pennsylvania market and tapped its team to market the property for sale. Despite the significant vacancy at the property, Fennelly knew the current market was largely underserved by daycare facilities, and aggressively marketed the property to operators hoping to enter the Bucks County market. Shortly after being retained, Fennelly was able to secure a daycare operator to purchase the building and enable Ferrante to drive his Ferrari to retirement.
“The same entrepreneurial spirit that powers so many of our clients’ success drives our unmatched ability to close deals in the central New Jersey and eastern Pennsylvania markets,” said Fennelly. “By leveraging our relentless work ethic and creativity paired with decades of market experience, we continue to be a trusted resource to clients to drive results on their behalf. We appreciate the faith Mr. Ferrante placed in our team to help him meet his financial goals and wish him the best in his retirement.”