R etail D evelopment R eimagined
M id A tlantic Real Estate Journal — Retail Development Reimagined —November 19 - December 23, 2021 — 11A
www.marej.com
Colliers International’s Algatt, Horner and Zerfass represent both parties in transaction Larken Associates acquires 210,000 s/f shopping center in Lehighton, PA
EHIGHTON, PA — Larken Associates announces the acquisi- tion of Carbon Plaza, a 210,314 s/f shopping center located at 1241 Blakeslee Blvd. Dr. E in Lehighton. Colliers In- ternational’s Jeff Algatt, Scott Horner and Derek Zerfass represented the seller and Larken Associates in the transaction. Located in the heart of Car- bon County, the grocery-an- chored shopping center is situ- ated just outside of downtown Lehighton along the area’s heavily traveled Route 443 retail corridor with over 20,300 cars passing by per day. This prime location also features easy access to the area’s major highways including I-476 and Rte. 209. Boasting excellent visibility and an abundance of parking, Carbon Plaza is home to a diverse array of retail ten- ants including Big Lots, Giant Grocery, Lehigh Valley Health Network, Dollar Tree, and Rite Aid as well as FunTime Cin- L
deal maker and truly makes things happen,” Tunis stated. Vantage Commercial is proud to announce another successful retail lease, this time at Plaza 500 located at 507 Black Horse Pike in Had- don Heights, NJ. Plaza 500 is a centrally located shopping center with excellent visibility and signage. The new tenant, Irie Mon Jamaican Restaurant and Take-out, joins a diverse roster of co-tenants including Klassy Nails, Always Available Lock- smith, and Cutting RoomHair Care. This will be the fourth restaurant in the center, es- tablishing Plaza 500 as a pre- mier quick service restaurant destination for local residents. Monica Walsh, director of client services, and Mike Gries, sales associate at Van- tage Commercial , worked closely with ownership and the tenant to facilitate a smooth transaction. MAREJ Accompanying these new- comers are plans for a new generation of hospitality accom- modations, restaurants and en- tertainment options. The area’s demographic shifts not only highlight the rising popularity and quality of living in Carbon County, but underscore Carbon Plaza’s potential in terms of location and future growth in the coming years. MAREJ the sizeable population of pro- spective customers for Carbon Plaza’s 20-plus retail, food and entertainment options. Known for a combination of charming downtowns and a bustling industrial mar- ket surrounded by the Pocono Mountains, Carbon County is one of Pennsylvania’s most lively regions. Paired with the county’s convenient location to the region’s employment centers and readily available transportation options to cities such as Philadelphia and New York City, Carbon Country prides itself on the high quality of life it offers residents.
Carbon Plaza
Plaza marks a key addition to Larken Associates’ Pennsylva- nia retail portfolio. In the past twenty years, Carbon County’s ample developable land and well-connected infrastructure have seen its population grow at a rate over three times greater than Pennsylvania itself. Within this market, Carbon Plaza is in an ideally accessible location with over 11,000 people living within a three-mile radius. This number nearly doubles when brought to a five-mile radius, illustrating
emas, the region’s only movie theater. In addition, Carbon Plaza features several local and global food establishments including Chiu Kwan Kitchen and Pizza Como USA, as well as national brands such as Taco Bell, Arby’s, and McDonald’s. Coupled with its superb loca- tion, Carbon Plaza’s versatile retail options offer an undeni- ably ideal shopping experience to every one of its visitors. “The acquisition of Carbon Plaza presents our team with a unique opportunity to take
advantage of the exceptional market that is Carbon County and tap into what we believe will be a vibrant future for the area,” said Victor Kelly , executive vice president of Larken Associates. “We look forward to leveraging our re- tail property management and leasing experience to unlock the full potential of this property and attract even more exciting businesses for the people of Lehighton Borough and beyond to enjoy for years come.” The acquisition of Carbon
Giletto of Vantage Commercial reps. developer in the acquisition of +/-83,000 s/f Southwood Shopping Center in West Deptford, NJ
CHERRYHILL, NJ — Van- tage Commercial announced the successful off-market sale
of Southwood S h o p p i n g Center, a re- tail center lo- cated on Rte. 45 in West D e p t f o r d . Th e Sh o p - ping Center has prevailed
Corinne Giletto
as a neighborhood landmark under the ownership of one family for over 60 years. The +/- 83,000 s/f center was sold to a development group that plans to renovate the Southwood Shopping Center and revitalize this portion of Rte.45, a state highway that connects West- ville, Gloucester County to Salem, SalemCounty. It serves as a major regional corridor for West Deptford, Mantua, Mul- lica Hill, and Woodstown, NJ. Corinne Giletto , senior ad- visor at Vantage Commercial,
Southwood Shopping Center I live. I am invested in trans- forming this center and my team has already uncovered opportunities that were previ- ously missed.” In a separate transaction, Vantage Commercial an- nounced the off-market sale of the former Capital One Bank located at 245 Bellevue Ave. in Hammonton, NJ. National Credit Reporting Systems, Inc. purchased the property and will use it for their business.
worked on this project for over two years. The new owner’s goal is to attract new tenants, modi- fy the anchors, and reinvigorate the center in hopes of providing products and services to the sur- rounding communities. Vantage Commercial was retained by the new owners as the leasing broker for the center. Giletto has expressed, “This is a project close to my heart and the community in Gloucester County in which
Ken Richardson , executive director, and Aran Ploshan- sky , director at Vantage Com- mercial, worked with Jeff Tunis , the property owner, to position the building for lease. “Vantage Commercial was professional and responsive to my needs during the entire process. I really appreciated the updates and the avail- ability of the Vantage team to answer my calls and tour my building. Ken is a seasoned
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