An affiliate of Post Brothers Apartments has acquired a parking garage in Philadelphia where Spruce Food Market makes its home on the street-level retail space. It traded for roughly $7.2 million.
The 175-vehicle garage at 1524 Latimer St. was sold by CLL Towne Inc. Park America will continue to manage and operate the parking facility. Josh Nadel of MPN Realty arranged the transaction.
The structure runs from Latimer to Spruce streets and includes roughly 3,500 square feet of retail space at 1523-25 Spruce St.
That space is leased to Spruce Food Market, which is a well-known institution in the neighborhood.
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