RAL Development Services has pre-leased 12,488 square feet of ground floor commercial space at the new mixed-use property 1300 Fairmount Avenue in Philadelphia to Nobel Learning Communities, Inc., a national network of 200 private schools throughout the country.
1300 Fairmount Avenue, which is expected to break ground soon, will be a 14-story, 624,575 square foot mixed-use property designed and developed by RAL Development Services with broad community support. The property is strategically positioned at the intersection of the Spring Garden and North Broad Street residential neighborhoods, two areas that have seen an influx of new residential and commercial developments. The project includes 471 rental apartments including studio, one-bedroom, two-bedroom and three-bedroom apartments, as well as 58,759 leasable square feet of retail space. The building has direct access to the Broad Street subway line as well as multiple bus routes. 1300 Fairmount Avenue is expected to open mid to late 2019.
“Metro is thrilled to partner with RAL and Nobel Learning Communities to aide in their shared goal of bringing high-quality education to the city of Philadelphia,” said Scott Benson, Senior Sales Associate at Metro Commercial. “The new learning center is ideally located on North Broad Street in Center City, which is experiencing a huge revitalization with new residences, restaurants and commerce.”
Phillip A. Azarik, VP of Brokerage Services, and Scott Benson, Senior Sales Associate at Metro Commercial, represented developer, RAL Development Services, in the transaction. Nobel Learning Communities, Inc. was represented by Rich Zeller at Equity Retail Brokers.
To read Philadelphia Business Journal’s full article by Natalie Kostelni, visit www.bizjournals.com/philadelphia/