This Week's Philadelphia Deal Sheet: Galdo's Catering In South Philly Purchased By SEPTA For $3.3M
An iconic South Philly culinary destination frequented by a generation of influential politicians was sold to the Southeastern Pennsylvania Transportation Authority.
The agency bought Galdo’s Catering and Entertainment at 1933 W. Moyamensing Ave. for $3.3M after the 25-year-old business closed down late last year, The Philadelphia Inquirer reported. SEPTA will use the property to expand its southern depot.
“Most of the political events in Philly were held at my place,” Louis Galdo, who retired in December, told the outlet. “Just about every politician and judge has walked through there. But we did everything: funerals, seminars, weddings, fundraisers for people in need.”
Figures like former Mayor John Street, notorious union boss John Dougherty and Philadelphia Democratic Party Chairman Bob Brady all ate at Galdo’s. Republicans, including state Sen. Doug Mastriano and Mehmet Oz, campaigned at the eatery.
The catering hall below Interstate 76 was owned by the Philadelphia Transportation Co., a private sector precursor to SEPTA, before it housed a Gino’s Hamburgers and a Roy Rogers. Galdo bought the property in 1996.
SEPTA plans to preserve the event space as a training area for the agency’s employees.
PEOPLE
Casey Clements was hired as the new chief people officer of Conshohocken-based CenterSquare Investment Management.
He has 20 years of experience, including more than a decade at McKinsey & Co. and several years at Philadelphia management consulting company Vynamic.
“I look forward to helping CenterSquare become a destination employer,” Clements said in a statement.
SALES
The Kislak Co. arranged the sale of the 108-unit Park Towne Apartments at 51 W. Chestnut Ave. in Vineland for $12M. Executive Vice President Joni Sweetwood procured the buyer.
This was the largest multifamily sale in Cumberland County since 2022, according to CoStar data cited in a press release from Kislak.
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A 7-acre industrial parking facility at the Byberry East Industrial Park in Northeast Philadelphia was purchased for $4.2M. A global e-commerce firm bought the property to house its van fleet, according to a press release from Colliers, which facilitated the sale.
Senior Vice Presidents Brad Boone and Brian McCurdy represented the seller, Philadelphia Industrial Development Corp.
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Coleman Investment Properties purchased two interconnected industrial sites in Quakertown for $5.75M.
CBRE arranged the sale of the buildings at 45 N. Fourth St., which offer a collective 165K SF of usable space. Steve Marzullo, Adam Silverman and Dale Lewis of CBRE marketed the property and represented the seller, Mativ Holdings.
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A 10K SF medical office property at 1550 Rodney Road in York was acquired by the University of Pittsburgh Medical Center for $2.9M.
Spencer Koch, Scott Gould, Rory Shelby and Christopher Biuso of Marcus & Millichap marketed the property on behalf of the seller. Timothy B. Stephenson Jr. is the company’s broker of record for Pennsylvania.
LEASES
Law firm Marshall Dennehey signed a 10-year renewal for its 120K SF office at 2000 Market St. in Center City. The firm has been located there since the company moved from 1845 Market St. in 2012.
