Mid Atlantic Real Estate Journal — May 10 - 23, 2013 — A
M id A tlantic R eal E state J ournal For a value of $800,000 in Philadelphia Sidney E. Gable Associates facilitates 50,000 s/f ind. sale P hiladelphia, PA — Sidney E. Gable Associates completed
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a five year lease extension for 50,000 sq.ft. at 10195 N.E. Ave. for a value of $800,000. The modern one-story ware- house facility is well located in Northeast Phila. near US 1 and Roosevelt Blvd. The tenant, Compass Industries of New York City, is a whole- sale distributor of hardware items. Sidney E. Gable Associates reports the sale of 133 W. Hunting Park Ave. to CLJ, LLC from the Estate of Leon- ard Bleiman for $1,100,000.00. Marvin Baron of Sidney E. Gable Associates, Inc. repre- sented CLJ, LLC while M.S. Fox Associates represented the sellers. After a complete renovation and retrofitting by CLJ the property is to utilized by La Fortaleza Inc. as their main location for a Physical Therapy Lab and Fitness Center. Other portions of the building were leased by Gable and Baron to Temple Physi- cians and Smith Pharmacy. n CINCINNATI, OH — Phil- lips Edison–ARC Shopping Center REIT Inc. announced the acquisition of Hartville Centre, a 108,412 s/f shop- ping center anchored by a Giant Eagle grocery store and located in the Greater Akron, Ohio Metropolitan Area. The acquisition of Hartville Centre brings the Company’s total portfolio to 40 properties with 14 leading grocers in 16 states, with a portfolio aggregate pur- chase price of $493.6 million. The company is a public non- traded REIT focused on the acquisition and management of well-occupied grocery-an- chored neighborhood shopping centers throughout the United States. Hartville Centre is anchored by a 64,475 s/f Giant Eagle grocery store, which is on a long-term lease through April 2020. Giant Eagle is the No. 1 grocer by market share in the Akronmarket.When combined with the Giant Eagle lease, 88 percent of the rents within the shopping center come from national tenants. n Phillips Edison– ARC SC REIT Inc. acquires 40th Shopping Center
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10195 N.E. Ave.
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