Strauss Auto Space For Rent in West Philly

A retail opportunity is available on the northeast corner of 48th and Chestnut Streets at the former site of Strauss Auto. The company declared bankruptcy in June forcing a vacancy at the site, now available for lease for $18/sqft from Triad Realty.

The space

“A typical mechanic can’t afford that kind of space,” said Steve Giannascoli of Triad.

The lot at 4733-39 Chestnut St. stretches for half the block. A 6K sqft building occupies the space. A few years ago, the landlord, a Westbury, New York couple, according to public record, built classroom space for the Community College of Philadelphia (CCP) because Strauss couldn’t afford to maintain the entire space. According to Giannascoli, CCP informed him of their decision not to exercise an option to occupy the remainder of the building when the tenant vacated six months ago. The school is currently expanding its Spring Garden campus.

CCP location attached next door

This represents something of a precarious opportunity for the property owners. The feel they can’t sell for maximum value right now because CCP operates classroom space in the rear of the building, according to Giannascoli. Instead of potentially offering the entire lot for sale, something that might attract a large developer interested in demolishing and rebuilding, owners must lease the vacant section of the building.

Dealership across the street

For now, the site provides an opportunity for a larger retailer to make a stake in West Philly. Across the street is Central City Toyota, where renovations are almost complete. A few blocks south at 48th and Locust sit the Croydon Apartments, site of a possibly now getting underway residential renovation. Factor in plans for a mixed use plan for the old West Philadelphia High School, which runs the whole block along Walnut between 47th and 48th Streets, and this rental opportunity, one block north, starts looking somewhat attractive.

But who’s gonna lease the space? We’ll keep an eye out.

–Lou Mancinelli