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2200 Market Street, Philadelphia

On behalf of its client, Llenrock Group sourced $1.5 million to refinance a one-story, 3,413 square foot building on the west corridor of Market Street in Center City Philadelphia. The property owners had previously operated the building as an art gallery. The building is secured by a long-term lease to 7-Eleven Inc. The retailer converted the former art gallery into one of its stores, which opened in January 2014. Llenrock Group director Chad Levitt comments, “The owner of this property did an excellent job repositioning the asset by securing a long- term lease with a 7-Eleven convenience store, which provided excellent credit for financing. The lender structured a creative deal that provided the borrower with the specific loan parameters that they required.”

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