10A — June 26 - July 16, 2015 — Shopping Centers — M id A tlantic
Real Estate Journal
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S hopping C enters
And partners with Billy Procida of Procida Funding EB Realty Management hires Steinberg of CBRE as retail representatives
HILADELPHIA, PA — CBRE, Inc. (CBRE) has been hired by EB Realty Management (EB Realty) as the retail repre- sentative for a series of devel- opments along North Broad St. Larry Steinberg, senior vice president with CBRE, will seek tenants for over 35,000 s/f of retail space within rede- velopment projects at The Di- vine Lorraine, The Met Opera House, The Studebaker Build- ing, and the Mural Lofts. This is part of a long-term revival plan for North Broad, helped in part by a $15 million grant from Philadelphia Parks and P
Recreation. “This is an exciting oppor- tunity for the City of Philadel- phia,” said Steinberg. “North Broad is poised for a retail revi- talization, and the investment by the City and the positive response from developers is a great indication of the bright days ahead for this corridor of the city.” EB Realty, under the direc- tion of founder Eric Blumen- feld , has been the most active developer investing in North Broad, successfully delivering residential and commercial de- velopment projects such as the mixed-use conversion of 640 N.
Colliers facilitates 10-year retail lease SCHNECKSVILLE, PA — Colliers International’s Allentown division recently facilitated a 2,388 s/f lease to Spark Orthodontics. Spark signed a long term lease at the former M & T Bank pad site in Kings Plaza at Schnecksville Shopping Center located on Rte. 873. Derek Zerfass, Senior vice president-Colliers Retail divi- sion, was the sole broker in this transaction. n “We hired CBRE because they share our vision for North Broad,” said Blumenfeld. “We believe a second Golden Age is unfolding here, and Larry Steinberg and his team can deliver exciting retail tenants to our projects.” n Stafford Smith Realty handles sale totaling $875k EAST ORANGE, NJ — Ray Smith , broker of Stafford Smith Realty in Shrewsbury, NJ announced the sale of the former Ace Hardware at 352 Central Ave. For $875,000. The 12,682 s/f building is on about 1 acre in the very busy downtown area of East Orange. The buyer, Jonathan Vogel, intends to redevelop the property for retail use. n The Goldstein Grp. represents Columbia Bank in3200 s/f lease PARAMUS, NJ — The Goldstein Group repre- sented both Columbia Bank and the owner in the leasing of a 3,200 s/f space at 110 Rte. 4 in Paramus. Principal, Neil Goldstein , and sales associ- ate, Greg Panayoti , were responsible for the deal. transactions. Representing the owner, The Goldstein Group handled the leasing of 3,820 s/f at 120 Rte. 22 in Springfield, NJ. presi- dent, Chuck Lanyard was re- sponsible for the transaction. n Broad which includes Marc Ve- tri’s popular Osteria restaurant on the ground floor and high- end apartments above. For this next phase of redevelop- ment ventures, EB Realty has partnered with Billy Procida of Procida Funding who has committed over $50 million to North Broad’s revival.
The Divine Lorraine
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