confidentiality agreement (ca)...the restaurant space: the first floor and lower level are a...

MPN Realty, Inc. | 1601 Walnut Street | Ste. 900 | Philadelphia, PA 19103 | P: 215.413.4900 | ww.mpnrealty.com

CONFIDENTIALITY AGREEMENT (CA)

The undersigned hereby agrees that any and all documents and information (collectively, the “Proprietary Information”) relating to the real property located at 707 Chestnut Street, Philadelphia, PA (the “Property”) made available to the undersigned by Mallin Panchelli Nadel Realty Inc. (“MPN”) and CP Acquisitions 20, L.P. (“Owner”) is proprietary and confidential and shall be used solely for the purpose of evaluating an investment on a debt or equity basis, joint venture, or potential sale of the Property. The undersigned shall not disclose any Proprietary Information to any person other than its employees involved in the evaluation of such Proprietary Information. Additionally, the undersigned shall cause such employees to hold confidential and not disclose any Proprietary Information. Notwithstanding the foregoing, such obligation shall not apply to: (i) information that was or generally becomes available to the public (other than as a result of our breach of this agreement) or (ii) any disclosure which we need to make as a result of any law, court order or pursuant to government action or regulatory requirements. All Proprietary Information which may be furnished to the undersigned shall continue to be the property of the Owner. The undersigned shall indemnify Owner for all losses arising solely from a breach of the terms set forth herein. This letter shall inure to the benefit of the successors of Owners.

In the event Buyer, and/ or any entity of which Buyer is a part, agree to purchase the Property, Buyer and/ or Buyer’s Broker will present any Purchase Proposal, Letter of Intent or Agreement of Sale through the offices of MPN. Furthermore, MPN will be permitted by Buyer and/ or Buyer’s broker to register Buyer with the Seller as a potential purchaser. It is agreed that the signatures below represent Buyer’s agreement to the terms hereinabove stated.

ACCEPTED AND AGREED: AUTHORIZED SIGNATORY FOR BUYER DATE

FIRST NAME COMPANY LAST NAME ADDRESS EMAIL ADDRESS CITY TITLE STATE PHONE NUMBER ZIP CODE

MARKET EAST MIXED-USE INVESTMENT PROPERTY

1601 WALNUT ST, PHILADELPHIA, PA 19102 215.413.4900 n www.mpnrealty.com MPNM A L L I N P A N C H E L L I N A D E L

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MPNM A L L I N P A N C H E L L I N A D E L

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707 CHESTNUT STREET Market East, Philadelphia

CLICK HERE TO VIEW VIDEO OF THIS PROPERTY

https://www.homejab.com/property/view/707-chestnut-st-philadelphia-pa-19106-usa

Information concerning this offer is from sources deemed reliable and no warranty is made as to the accuracy thereof. The offering is submitted subject to errors, omissions, change in price, or other conditions, prior sale or Lease, or withdrawal without notice. The prospective tenant should carefully verify to his/her own satisfaction all information contained herein.


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JOSHUA NADEL 267.238.1712 n [email protected]

Aerial View of Neighborhood

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About the Building

2 story

707 Chestnut Street is a 25,000 square foot five story elevator building fully sprinklered with 2 masonry enclosed

fire towers. The building was gut renovated in 2007 and is modern and fully equipped in every way. All utilities are

separated for each tenant, and the mechanical, electrical, HVAC, life safety and elevator systems are all commercial

grade and in excellent condition. 707 Chestnut covers 100% of the lot with 28’ of frontage on Chestnut Street and a

depth of 178’ deep through to Ranstead Streets. The generous width of the building provides for a very strong street

level retail presence while also allowing for a spacious separate entrance and elevator lobby to the upper floors.

The 5 Apartments: All of the Apartments are large and have 2 bedrooms and 2 full bathrooms. hardwood flooring,

huge tile kitchens with quartz counter tops, stainless steel appliances and a stacked washer and dryer in each unit. All

utilities are separate and paid by the tenant.

Mission Escape Games: On floors 2 and 3 Mission Escape Games, a group entertainment company, has taken on the

space. “Mission Escape Games” (MEG) has 4 locations nationally:

1. Philadelphia 3. Anaheim, CA

2. Manhattan 4. West Hartford, CT

The Restaurant Space: The first floor and lower level are a combined space of approximately 8,000 SF. The space

is completely fitted out and fully equipped for a restaurant and was designed by one of the nation’s leading Chefs,

Jose Garces. The 700 Block of Chestnut is known for inviting a brisk restaurant business with 2 long standing and

successful Starr Restaurant anchors, Jones and Morimoto. In addition, there is a Liquor License which covers both

levels available for sale as well.

RANSTEAD ST. CHESTNUT ST.



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INVESTMENT OVERVIEW


Property Name Jefferson Flats

Property Address 707 Chestnut St

Current Use Mixed-Use

Number of Units (7); 5 Apt + 2 Com

Gross Building Area 25,374 SF

Net Rentable SF 18,858 SF

Residential Rentable Area 6,511 SF

Commercial Rentable Area 12,347 SF

RE Tax Assessment (2019) $ 3,877,800

RE Tax (2019) $ 54,281836

Zoning CMX-5

Year Built 1900

Year Renovated 2007

Lot Size 28’ x 178’

Lot Area 4,984 SF

Average Rent per Unit (Apt) $ 2,259

Average Rent per SF (Apt) $1.73

PROPERTY DATA

INVESTMENT DATA

Effective Gross Income $ 415,005

Total Expenses $ 125,868

Net Operating Income $ 289,137

TENANT PAYS LANDLORD PAYS

Electric Trash & Sewer

Gas (Heat, Cooking) Common Electric

Hot Water Common Gas

Cold Water

confidentiality agreement (ca)...the restaurant space: the first floor and lower level are a...

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