Mark Taylor And Dean Zang Of Marcus & Millichap Arrange the Sale Of Harleysville National Bank in Coatesville, Pennsylvania for 7.76% Cap Rate

Marcus & Millichap (03/05/2010) - Philadelphia, PA -January 2010  Marcus & Millichap Real Estate Investment Services, the nation's largest real estate investment services firm, has arranged the sale of a Harleysville National Bank branch office located at the intersection of Route 30 (E. Lincoln Highway) and Route 82 in Coatesville, Pennsylvania. The property sold at the sales price of $1,440,000, which represents a 7.76% capitalization rate on current income. The property, a former branch office for Willow Financial now bannered as Harleysville National Bank, is subject to a 20 year bonded absolute net lease with structured rent increases every five years. Mark Taylor, vice president of investments, and Dean Zang, associate vice president of investments, of the Philadelphia office of Marcus & Millichap, represented the owner, BR Branches, LP, a Pennsylvania Limited Partnership. Daniel Seltzer, of Richard J. Seltzer Inc. Realtors, procured the buyer, Lucia Spaventa.

Harleysville National is the financial motor of eastern Pennsylvania. Founded in 1909 and headquartered in Harleysville, Pennsylvania, Harleysville National Corporation is the holding company for Harleysville National Bank and Trust Company. Harleysville National Bank is a full-service banking institution serving the Eastern Pennsylvania counties of Montgomery, Chester, Berks, Bucks, Carbon, Lehigh, Monroe, and Northhampton. Harleysville National Bank has total assets exceeding $5.5 billion, 84 branch offices and is the third largest bank headquartered in the Philadelphia area.

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