Five buildings in downtown Bryn Mawr, including the storefronts of Carina Sorrella, Jeni’s Splendid Ice Creams, and The Bryn Mawr Buttery, are up for sale.
The Bryn Mawr Collection, a nearly26,000-square-foot portfolio that includes residential, retail, medical, and office space, was recently listed by real estate firm CBRE. The properties are owned by Main Line-based real estate developer Tim Rubin and are located in the heart of Bryn Mawr at 834-40 W. Lancaster Ave. and 860-66 W. Lancaster Ave.
CBRE’s Chris Munley said the properties could sell for around $12 million.
Rubin is a Narberth native who has owned the properties for almost 20 years. With the sale, he is hoping to recycle capital and make a similar investment somewhere else, Munley said.
The Bryn Mawr Collection is “extremely rare, irreplaceable ‘Main Street’ real estate, providing a once-in-a-lifetime opportunity to break into a high barrier to entry market,” according to the listing. The portfolio is a stone’s throw from the Bryn Mawr SEPTA station and down the road from Villanova University, making it well positioned in one of the region’s most “affluent, educated, and densely populated suburban communities,” the listing reads.
The properties are currently home to TCO Fly Shop, The Buttery Bryn Mawr, Jeni’s Splendid Ice Creams, and Carina Sorrella, as well apartments and offices.
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Beloved tenants such as Carina Sorrella and The Buttery, which opened last week, aren’t going anywhere, Munley said. The successful businesses are “one of the reasons this is attractive” for potential buyers, and they have long-term leases that would extend beyond the sale of the properties.
The properties are in their second week on the market, and Munley said the level of interest has been “eye-opening.” In addition to local players looking to expand their portfolio on the Main Line, Munley said he has seen interest from investors that usually focus on larger markets like New York, San Francisco, and Los Angeles.
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