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Real Estate Journal — Pennsylvania — Section C
M id A tlantic
Gebroe-Hammer orchestrates $23.8m in recent Pennsylvania multi-family sales Brecher & Oropeza of Gebroe-Hammer represent seller in $15.7m sale of 344 units E ASTERN PA — East- ern PA’s proximity to educational and employ- commercial building anchored by Dollar Store on site.
the seller and identified the buyer of the 21-duplex commu- nity featuring 42 one-bedroom units. The Northwest Philadel- phia property is off of Washing- ton Lane. • Liberty Walk Apartments, a 36-unit property, sold for $2.175 million. Located at 500 E. 24th St. in Chester’s Sun- nyside section, Liberty Walk consists of four detached two- story buildings, consisting of eight one-bedroom and 28 two- bedroom units. These latest transactions cap off Gebroe-Hammer’s active investment brokerage activities throughout the Philadelphia/ South Jersey multi-family mar- ket during the past 18 months. The firm’s market specialists have completed more than 22 sales with an aggregate value of $90.94 million involving more than 1,829 units throughout this metro region. n
“Sherman Hills is located near employment centers, the First Union Arena, I-81 and Route 309,” said Brecher. “Gro- cery stores, banks and elemen- tary schools are all within a convenient walking distance, and Kings College and Wilkes University are within a three- mile radius. The location, along with the complex’s amenities, rendered this investment op- portunity quite unique.” Additional transactions in- cluded: •Fairfield Apartments, lo- cated at 7900-7922 Fairfield St. in Philadelphia, sold for $3.525 million in a transaction arranged by Brecher and Eli Rosen , senior vice president. • Arborwood Duplexes in the Germantown/Mt. Airy section of Philadelphia sold for $2.375 million. Rosen represented
HI-LIGHTS OCTOBER 10 - 23, 2014 In the largest sale, Gebroe- Hammer’s managing directors Joseph Brecher and David Oropeza represented the ment centers has contributed toward a wave of recent multi- family trading activity, the lat- est of which involved the sale of four multi-family properties arranged by Gebroe-Ham- mer Associates . Combined, the separate transactions to- taled 486 units sold for nearly $23.8 million.
seller and identified the buyer of Sherman Hills, a garden- apartment complex in Wilkes- Barre. The 344 units were sold for $15.7 million as part of a Housing Assistance Payment (HAP)/Housing Urban Develop-
ment (HUD) contract. Constructed on 22.6 acres in 1979, Sherman Hills consists of eight two-story garden-style buildings and an eight-story high-rise building. There also is a three-unit, fully occupied
SPOTLIGHT Eastern PA 3-9C Landmark handles 144,500 s/f in ind. transactions
67,000 s/f purchased by Smith Land & Improvement Co. for new supermarket Campbell and Gasper of Campbell Commercial handle $6.125 million sale of office building
LEMOYNE, PA — Art Campbell of Campbell Com- mercial Real Estate, Inc.
Campbell Commercial Real Estate, Inc. handled the sale. Capital Blue Cross plans to open a Capital Blue health and wellness store in the new Hampden Market Place in spring 2015. With 8,800 s/f of space, the store will include a concierge desk, presentation
space, children’s area, fitness area, private individual and family customer service of- fices, meeting space for com- munity use, and café space with ample casual seating. Campbell and Gasper repre- sented Capital Blue Cross, Justin Shoemaker of J.C.
Bar represented Hampden Marketplace GF, LP, the landlord. Corporate Facilities In- corporated has leased 3,600 s/f at 401 East Winding Hill Rd., Mechanicsburg from 401 Winding Hill, L.P. Campbell handled the transaction. n
has recently nego t i at ed the following transactions: S m i t h Land & Im- pr ovement C o . , p u r - chased the B l u e C r o s s
LMS Comme r c i a l represents buyer in 31,977 s/fwhse. lease
or more than twenty-five years, Manko, Gold, Katcher & Fox has provided environmental, energy and land use law and litigation services.
office building on State St. and renovations are being completed for a new Karns supermarket for $6,125,000. The family owned supermar- ket chain is moving its store in the West Shore Plaza across South Twelfth St. into the State St. building. The exist- ing store has been in the Plaza since the 1970’s. The new store will provide 67,000 s/f, more than doubling Karns’ existing square footage. The existing store will close one or two days in advance of the new store’s opening to allow time for equipment to be moved. Camp- bell and Jessica Gasper of
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