P ennsylvania
S hopping C enters
Real Estate Journal — Pennsylvania — Section C
www.marejournal.com
M id A tlantic
Ted Turnbull, Jason Turnbull and Matthew Czaus broker 70,000 s/f industrial lease ROCK Commercial Real Estate’s Bode completes 109,504 s/f lease at 915 Woodland ViewDr. in York Y ORK, PA — ROCK Commercial Real Es- tate (ROCK) complet-
Associates LLC for $250,000. Bode and Damian Reed of ROCK brokered the transaction. • Artemis the Art of Liv- ing, LP purchased a 19,498 s/f retail property at 21 West Broadway in Red Lion from ArthurLee, LLC for $324,000. Kevin Hodge and Reed of ROCK represented the seller. • SPG Capital, LLC pur- chased a 1,150 s/f commercial property at 131 North Railroad St. in Hanover from Kenneth C. & Catherine D. Gentzler. Heather Kreiger and Mat- thewCzaus of ROCK brokered the transaction. • Susquehanna Rental Prop- erties, LLC purchased a 58,865 s/f industrial property at 400 East Locust St. in Dallastown from Rice Trucking. Jason Turnbull and Ted Turnbull of ROCK brokered the transac-
tion. • 260 Shady Ln. LLC pur- chased a 27,900 s/f industrial property at 260 Shady Ln. in Manchester from Space Leas- ing, Inc. for $1.1 million. Bode and Hodge brokered the trans- action. • Print-O-Stat leased 28,000 s/f of industrial space at 1128 Roosevelt Ave. from 1128 Roo- sevelt Avenue, LLC. Hodge represented the seller. • Communications & Power Industries leased 1,743 s/f of office space at 268 West Beaver St. from Larry M. & Doreen E. Hinkle. Heather Kreiger and Finkelstein of ROCK brokered the transaction. • BY Repair Services, LLC leased 1,745 s/f of industrial space at 1130 Zinns Quarry Rd. from Daniel B. Krieg, Inc. Ted Turnbull and Jason Turnbull
brokered the transaction. • Samba Hair Braiding leased 390 s/f of mixed-use space at 16 South Queen St. in York City from Susquehanna Real Estate, LP. Finkelstein- brokered the transaction. • Grace and Associates, LLC leased 251 s/f of office space at 140 Roosevelt Ave. from YCEDC. Hodge brokered the transaction. • PennCares leased 1,009 s/f of office space at 127 West Market St. from 127 West Market St. Associates, LP. Bode and Kreiger brokered the transaction. • York Saw and Knive Co., Inc. leased 70,000 s/f of indus- trial space at 3653 Mia Brae Dr. from Rexroth Tenancy in Common Partnership. Ted Turnbull, Jason Turnbull and MatthewCzaus of ROCK bro- kered the transaction.
• 4300 NESC, LLC pur- chased a 46,640 s/f industrial property at 560 Maryland Ave. from Genuine Parts Co. for $400,000. Kevin Hodge and Greg Finkelstein of ROCK brokered the transaction. • Colony Papers, Inc. pur- chased a 11,205 s/f industrial property at 205 Roosevelt Ave. from Richard & Carolyn Brick- er for $292,000. Finkelstein and John Birkeland of ROCK represented the seller. • Home Again Concepts, LLC purchased a 41,287 s/f office property at 25 Penncraft Ave. in Chambersburg, from Blue Ridge Publishing Co. for $1.65 million. Birkeland represented the seller. • J&M Pine Grove Rd. LLC purchased a 2,420 s/f office property at 310 Pine Grove Commons from S&P Medical
ed 18 sale and lease transac- tions totaling 498,916 s/f. • Ha r l e y D a v i d s o n Mo t o r C o . Operations, Inc . l eased 109,504 s/f of
David Bode
HI-LIGHTS MARCH 15 - 28, 2019 SPOTLIGHT SOUTHEASTERN PA J.G. PETRUCCI BEGINS DEMOLITION WORK IN HANOVER TWP. industrial space at 915 Wood- land ViewDr. Manchester Twp. fromWoodland View York, LP. David Bode of ROCK brokered the transaction. 5-11C
Michael Curran negotiates transaction on behalf of Linlo Properties CBRE arranges 76,972 s/f sale leaseback of two office buildings in Mechanicsburg
MECHANICSBURG, PA — CBRE has arranged for the sale of two office buildings, totaling
76,972 s/f, in Mechani cs - burg. Linlo Properties acquired both p r o p e r t i e s and Members 1st Federal Credit Union has l eas ed
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Michael Curran
NAI COMMERCIAL PARTNERS’ FULMER INKS LANCASTER DEAL
back a portion of both buildings as they begin the due diligence phases for a new corporate headquarters. “Here at Linlo we could not ask for a better acquisition pairing to start 2019,” said Sarah Gates , Linlo portfolio manager. “We continue to see the strength of the Rossmoyne Business Park and feel that these assets complement our existing offering well. We thank Members 1st for the opportunity and for their pro- fessionalism throughout the entire deal process.” Members 1st is exploring the option to consolidate operations into one facility at a new corpo-
5053 Ritter Rd.
4999 Louise Dr.
rate headquarters in Hampden Twp., although details have not been finalized. “We are approaching nearly 70 years of proudly serving members, associates and the community,” said Mike Wil- son, chief marketing officer at Members 1st Federal Credit Union. “In addition to sig- nificantly expanding our offer- ings of extremely competitive products and services in the marketplace, we have also grown as an employer of choice. Maintaining the costs associ- ated with multiple buildings is neither efficient, nor conducive
to a collaborative organization with nearly 500 associates who serve 400,000 members from our headquarters each day. It has been great to partner with Linlo Properties as we begin the due diligence phases of consolidating into one cohesive, collaborative facility in a fis- cally responsible manner.” CBRE first vice president Michael Curran was the sole broker in the transaction, nego- tiating on behalf of the buyer, Linlo Properties. The purchase allows Linlo to take ownership of additional office space in Rossmoyne Business Center,
while creating flexibility for both parties through a partial leaseback scenario. “Both parties were able to recognize the potential for a win/win scenario in the trans- action,” said Curran. “One that expands Linlo’s growing office ownership portfolio, while at the same time providing flexibility to Members 1st in planning for their continued growth.” The two office buildings are located at 4999 Louise Dr. and 5053 Ritter Rd. and are 56,494 s/f and 20,478 s/f, respectively.
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