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Bounded by the Delaware River to the south and east and

Neshaminy Creek to the west, Bristol Township extends

approximately four miles northeast of Philadelphia and

surrounds Bristol Borough, a tucked away waterfront enclave on

the banks of the Delaware River. Originally named Buckingham,

it was renamed to Bristol Township in 1702 and served as a

riverside town. Today the preserved elements of the shipyard,

and other buildings once important in Bristol’s past service are

enshrined in the Bristol Historic District, Bristol Industrial Historic

District, and tourism sites celebrating the town’s history and rich

ethnic diversity. Various annual festivals, in particular, keep a

multi-ethnic cultural identity alive and well.

Beyond its historical attractions, Bristol offers entertainment,

shopping, and dining venues along its main commercial corridor.

Its main retail center, Bristol Commerce Park, offers various

options for shopping and eating including restaurants like

Hibachi Grill, La Mexicana, and the Original Golden Eagle Diner.

Bristol offers convenient access to major transportation routes

in the area, including Interstate 95, the Pennsylvania Turnpike

(I-276), and Bristol Pike (US Route 13). Residents are able to take

a short train ride to and from downtown Philadelphia via SEPTA’s

Bristol Regional Rail Station, allowing a suburban lifestyle with

urban professional opportunities. This has attracted a number of

young professionals and families to the area.

The featured properties in this month’s rent survey represent

six communities in Lower Bucks County built between 1969 and

1974. Average occupancy rates for stabilized communities range

from 95% to 99%. Average rental rates per square foot range from

$0.93 to $1.90, with average unit sizes ranging from 624 to 1033

square feet. Common area amenities include fitness centers,

clubhouses, swimming pools, tennis courts, and volleyball courts.

Unit amenities feature ceiling fans, private balconies/patios, and

washers/dryers. Residents pay application fees from $28 to $50

and security deposits from $100 to one month’s rent. Pets are

allowed in some surveyed communities with residents paying

non-refundable pet deposits of $200 to $500 and monthly pet

rents of $15 to $30.

Spotlight on Bristol/Lower Bucks County, Pennsylvania | Multifamily June 2016

Service. Success. Perfected.

Lions Park and Riverfront

Grundy Mill Complex

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Spotlight | Rent Comparables June 2016

CROYDON STATION909 Bristol PikeCroydon, PA 19021

UNIT TYPE SF ASKING RENT

1 BDR/1 BA 630 $750

2 BDR/1 BA 796 $875

• Residents pay a $25 application fee and a security deposit

of one month’s rent.

• Residents pay for electric; property pays for gas, water,

and trash removal.

• Common area amenities include on-site laundry facilities.

BRISTOL GARDENS1405 Veterans HighwayBristol, PA 19007

UNIT TYPE SF ASKING RENT

1 BDR/1 BA 690 $650

2 BDR/1 BA 805 $785

• Residents pay a $28 application fee and a $100

security deposit.

• Residents pay for electric; property pays for gas,

water, and trash removal.

• Common area amenities include on-site

laundry facilities.

• Unit amenities include hardwood floors.

No. Units 95

Occupancy 97%

Year Built 1968

Managed by Private Owner

No. Units 392

Occupancy 95%

Year Built 1969

Managed by Bristol Gardens

LEVITTOWN TRACE3000 Ford RoadBristol, PA 19007

UNIT TYPE SF ASKING RENT

1 BDR/1 BA 487 $729

2 BDR/1 BA 760 $949

• Residents pay a $35 application fee and a security

deposit of one month’s rent.

• Additional fees include a non-refundable pet

deposit of $300 and a pet rent of $30.

• Residents pay for electric; property pays for gas,

water, and trash removal.

• Common area amenities include a swimming pool,

playground, and on-site laundry facilities.No. Units 617

Occupancy 96%

Year Built 1973

Managed by Emess Management

GLEN HOLLOW1100 Newportville RoadCroydon, PA 19021

UNIT TYPE SF ASKING RENT

EFF 453 $862

1 BDR/1 BA 692 $954

2 BDR/1 BA 960 $1,078

• Residents pay a $40 application fee and a $100

security deposit.

• Additional fees include a non-refundable pet

deposit of $300 and a pet rent of $25.

• Residents pay for electric; property pays for water

and trash removal.

• Common area amenities include a BBQ/picnic area,

clubhouse, playground, on-site laundry facilities, and

a swimming pool.

No. Units 615

Occupancy 97%

Year Built 1974

Managed by Konover

Residential

No. Units 250

Occupancy 99%

Year Built 1976

Managed by Odin Properties

EDGELY ESTATES7200 Marion AvenueLevittown, PA 19055

UNIT TYPE SF ASKING RENT

1 BDR/1 BA 685 $775

2 BDR/1 BA 980 $925

• Residents pay a $30 application fee and a

security deposit of one month’s rent.

• Additional fees include a non-refundable pet

deposit of $250.

• Residents pay for electric; property pays for gas,

water, and trash removal.

• Common area amenities include on-site laundry

facilities and a playground.

• Unit amenities include hardwood floors.

STONEBRIDGE RUN APARTMENTS1717 Bath RoadBristol, PA 19007

UNIT TYPE SF ASKING RENT

1 BDR/1 BA 900 $938

2 BDR/1 BA 1,100 $1,023

2 BDR/1.5 BA 1,100 $1,080

• Residents pay a $30 application fee and a one to three month’s rent depended on credit security deposit.

• Additional fees include a non-refundable pet deposit of $200.

• Residents pay for electric; property pays for gas, water, and trash removal.

• Common area amenities include on-site laundry facilities, and a playground.

No. Units 295

Occupancy 97%

Year Built 1974

Managed by Wessex Management

© 2016 The Greysteel Company LLC. All rights reserved.

The report below features a sampling of properties sold within the last three months in Pennsylvania. Please note the different locations and adjust comparisons accordingly. Also note that sales comparables provide a snapshot of recent transactions and are not a perfect predictor of future market movement and behavior.

Spotlight | Sales Comparables June 2016

WYOMISSING PARK APARTMENTS1401 Pershing BoulevardReading, PA 19607

GLENSIDE TERRACE501 Edge Hill RoadGlenside, PA 19038

GLEN PARK TOWNHOMES111 Wayne RoadBridgeton, NJ 08302

6300–6318 CITY6300–6318 City AvenuePhiladelphia, PA 19151

ECKO VILLAGE APARTMENTS915 Clifton Heights RoadHummelstown, PA 17036

AMBLER CROSSING APARTMENTS311 N Spring Garden StreetAmbler, PA 19002

Close Date: March 2016

Units: 112

Year Built: 1940

Price: $4,170,000

Price/Unit: $37,232

Price/SF: $28.64

Seller: Sunbridge Associates LP

Buyer: Glen Park Apartments LP

Close Date: May 2016

Units: 102

Year Built: 1962

Price: $6,850,000

Price/Unit: $67,157

Price/SF: $65.49

Seller: Wyomissing Park Apartments

Buyer:Wyomissing Holding LLC and 1401 Reading Realty LLC

Close Date: April 2016

Units: 37

Year Built: 1966

Price: $3,575,000

Price/Unit: $96,621

Price/SF: $95.39

Seller:Wexford Property Management

Buyer:Elkins Park Management Associates

Close Date: March 2016

Units: 55

Year Built: 1925

Price: $3,250,000

Price/Unit: $59,091

Price/SF: $87.06

Seller: Saint Joseph's University

Buyer:Dempsey Development & Brokerage

Close Date: March 2016

Units: 20

Year Built: 1960

Price: $3,170,000

Price/Unit: $158,500

Price/SF: $80.81

Seller: Private Owner

Buyer: The Galman Group

Close Date: April 2016

Units: 52

Year Built: 1973

Price: $3,120,000

Price/Unit: $60,000

Price/SF: $60.48

Seller: Chestnut Street Townhouses LLC

Buyer: Northstar Properties

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* Corporate Headquarters and Transaction Services Center

TRANSACTION TEAM

Caleb BrownSenior Investment Associate

Yassi FarzanehProduction Director

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CAPITAL MARKETS

Mark BittenbenderDirector

Brittany WismerSenior Finance Associate

Matt SchwartzCEO

Fanyu GuoAnalyst

Pauline LefebvreProduction Associate

Ari FiroozabadiPresident

Service. Success. Perfected.

2 Bala Plaza, Suite 300Bala Cynwyd, PA, 19004 P. 215.437.0720 philadelphia@greysteel.com

5423 GRAYS AVENUE5423 GRAYS AVENUEPHILADELPHIA, PENNSYLVANIAAVAILABLE

INVESTMENT HIGHLIGHTS

• Spacious three-story warehouse totaling 35,865 square feet ready for build-out

• Warehouse includes a loading dock and freight elevator shaft

• Large lot with over an acre of non-occupied land, zoned for medium industrial use

LOCATION HIGHLIGHTS

• Conveniently located in the Southwest Philadelphia near the Schuylkill River and adjacent to a high traffic rail line

• Close proximity to Center City and University City providing potential tenant with easy access to numerous retailers and suppliers

Spotlight | Exclusive Offering June 2016

Los Angeles • Washington, D.C.* • Baltimore • Philadelphia • Dallas • Fort Worth