P ENNSYLVANIA
S HOPPING C ENTERS
Section C of the Mid Atlantic Real Estate Journal
Rumley of Metro Commercial represents the buyer & seller Katz Properties acquires Plaza 352 Shopping Center for $12.375 million
B
ROOKHAVEN, PA — Katz Properties of New York has ac-
occupying approximately 102,000 s/f. Other prominent tenants are Verizon Wireless and Citizens Bank.
munity.” Katz Properties is a real estate acquisition and devel- opment company with offices in Boston, New York, Phila- delphia and Virginia that focuses on the acquisition, operation and repositioning of retail shopping centers and office properties in the North- east and Mid-Atlantic. Paul Rumley of Metro Com- mercial Real Estate repre- sented both Katz Properties and the seller in the transac- tion. Leasing and property man- agement services will be pro- vided by Winslow Property Management, an affiliate of Katz Properties. n
quired the P l aza 352 s h o p p i n g c ent e r f o r $12,375,000. T h e a p - proximately 207,000 s/f supermarket a n c h o r e d
Daniel Katz, a principal of Katz Prop- erties said, “ W e a r e pleased to be expand i ng in eastern
Daniel Katz
Eric Wolf
shopping center, built in 1972, is situated on 23 acres located at 5005 Edgmont Ave, Brookhaven. Plaza 352 shopping center is anchored by Pathmark super- market, occupying approxi- mately 59,000 s/f, and Kmart,
Pennsylvania, where we al- ready have two other grocery anchored shopping centers, and are glad to add A&P to the list of grocers in our portfolio.” Eric Wolf, Managing Di- rector of Katz Properties,
Plaza 352 Shopping Center, Brookhaven, PA
said “We see tremendous potential for this asset. We believe that the area has strong fundamentals and are
looking forward to making improvements to the shop- ping center that are worthy of Brookhaven’s vibrant com-
To provide service to Mack Truck/Volvo in the region LibertyPropertyTrust bringsWestport Axle to 516,800 s/f industrial space
SEPTEMBER 14 - 27, 2012
HI-LIGHTS
BREINIGSVILLE, PA—Lib- erty Property Trust announced that Westport Axle has moved into 516,800 s/f of industrial space at 650 Boulder Drive in Breinigsville. The company signed a long term lease in April and took possession of the space earlier this summer to complete their extensive fit-out. Westport has taken the space in order to provide service to Mack Truck/Volvo in the region. The company plans on hiring 500+ people, skilled and un- skilled. To date, 50% of those positions have been filled.
NKFSM completes 50,000 s/f headquarters lease for Metso
Newmark Knight Frank Smith Mack (NKFSM) suc- cessfully represented Metso Automation USA Inc. (Metso) in the relocation of one of their divisional operations to 2750 Morris Road, Lansdale. See page 2C.
650 Boulder Drive
“We are very pleased we were able to provide Westport with the very quick turnaround they were seeking for their new facil- ity,” said Bob Kiel, senior vice president and city manager for Liberty in the region. The building, located in Lib-
erty Business Center, offers a total of one million s/f of in- dustrial space. Westport Axel will share the building with one other tenant. Liberty owns andmanages over 8.3 million s/f of industrial space within this Center alone. n
Adams of NAI Summit reps tenant in 35,465 s/f lease
Michael Adams of NAI Summit recently represent- ed the tenant in leasing 35,465 s/f of warehouse space at 999 Postal Road, Allentown. See page 3C.
is proud to announce the acquisition of Plaza 352 Shopping Center Brookhaven, PA
ALSO INSIDE:
C ENTRAL PA S POTLIGHT ............................................... 5-12C CREW L EHIGH V ALLEY ...................................................14C PA P ROJECT N EWS ...........................................................15C P EOPLE & C OMPANY N EWS ...............................................16C
Eric Wolf 267.528.3113 ewolf@katzproperties.com
www.marejournal.com
Made with FlippingBook - Online catalogs