12C — April 11 - 24, 2014 — Pennsylvania — Mid Atlantic Real Estate Journal
www.marejournal.com
P ENNSYLVANIA
WILKES-BARRE HinerfeldCommercialRealEstatewasengagedas agent for thiswellknown+/-120,000SFHotel and BanquetCenter locatedonPublicSquare inWilkes Barre.Afterathoroughmarket reviewandconsultation withtheownersan“adaptivereuse”marketingplanwas developed.Senior living, collegiatehousing, andluxury condominiumusesweretargeted.Thepropertywassold toKingsCollegeforuseasacollegiatemulti-usefacility.
DUNMORE Whenthefamilyofawell regardedfamilycateringfacility decidedtoclose, theyrequestedthat thepropertynotbe soldforacateringfacility.HCREpositionedtheproperty forpossibleofficeuseor for landdevelopment.Beinga 5.5acrecorner lotatExit188of I-81onRoute347, itwas bettersuitedforahighvisibilitycommercialuser. Itwillbe thenewhomeof theTomHesserNissandealership.
GLENMAURA CORPORATE CENTER WhenCignawasdownsizingtheiroperation, the thenownersof the largestClassAofficebuilding inNortheasternPennsylvaniaengagedHinerfeld CommercialRealEstate(HCRE), torepresent themin findingadditional tenants.Throughextensivemarketing, monthsofnegotiationsandevenchanges inbuilding control, a leasewassignedwithHarperCollinsPublishers foroccupancyintheSpringof2014.
HANOVER TOWNSHIP This+/-180,000SFIndustrial propertywas theformer DoveWindowmanufacturingfacility.Ownership desiredaquicksaleduetotheclosureof their manufacturingbusiness.HinerfeldCommercialReal EstateandSHSRealEstateactedasco-brokers,with Hinerfeldhandlingall local andregionalmarketing.A localbuyerwas foundandthepropertywassoldwithina shortperiodof time.
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