Single Tenant Flex Building Leased to Rhubarb Hospitality Collection

Forged Real Estate is pleased to exclusively offer the opportunity to acquire the fee simple interest in a single tenant flex property leased to Rhubarb Hospitality Collection (RHC), (the “Property”) strategically located in Philadelphia. The property features a predominantly single story design with a partial second floor providing additional office and storage space, offering functionality and flexibility. RHC operates under a true triple-net (NNN) lease with more than four years of term remaining and 3% annual rental escalations, delivering investors a truly hands-off, income-producing asset with built-in growth. The tenant has operated within this location for over 10 years. The property boasts a max ceiling height of 16 feet and features three (3) loading doors consisting of one (1) drive-in door and two (2) dock high doors. The zoning is classified as I-2, Medium Industrial with 12% of the flex property being office while the rest is warehouse. In place currently is a naked lease with no options remaining, allowing a business owner the opportunity to purchase, collect rent until the current expiration of the term and then either continue with the Tenant or put their own business in the building offering an owner/user opportunity. Ideally situated at the corner of Front Street and Reed Street, the property benefits from excellent visibility and accessibility within one of the Pennsport neighborhoods of Philadelphia, the sixth-largest city in the U.S., and a major economic and cultural hub. The asset is positioned in a densely populated, affluent trade area, with 213,000 residents and 101,000 households within two miles and average household incomes exceeding $135,000 within one mile. This demographic strength drives robust consumer spending and sustained demand for commercial space. Regional connectivity is exceptional, seconds from I-95, one of the East Coast’s primary north-south arteries with over 119,200 vehicles per day, and within two miles of I-676 and I-76, providing access to an additional 294,000 daily vehicles. The surrounding area is experiencing rapid redevelopment, with multiple projects underway, including two mixed-use residential developments totaling more than 300 units and a 32,000 SF LIDL grocery store slated for delivery within two years. These projects will further enhance population density, foot traffic, and long-term demand for commercial real estate in the area. Rhubarb Hospitality Collection (“RHC”) is a leading international hospitality company specializing in luxury event catering, destination restaurants, venue dining, and workplace amenity services. The company manages restaurants, bars, cafés, and food & beverage operations in high-profile cultural, commercial, and landmark venues, serving more than 5 million guests annually across its portfolio. In 2023, RHC was acquired by Oak View Group (“OVG”), further strengthening its global platform. The lease is backed by Spectra, a nationally recognized venue management and hospitality provider that serves 30–40 million guests annually across 250,000+ events.