12A — February 26 - March 10, 2016 — ICSC Mid-Atlantic Conference & Deal Making — Shopping Centers — M id A tlantic
Real Estate Journal www.marejournal.com
S hopping C enters
Greysteel arranges sale of Federal Hill Station
Largest privately-owned gas station sold KW Commercial, The Daniel Perich Group facilitates sale S
TROUDSBURG, PA — KW Commercial, The Daniel Perich Group has closed on the sale of the largest privately-owned gas station in Monroe County. George Vlamis, CNE and Daniel Perich, CCIM both of KW Commercial, The Daniel Perich Group represented the transaction. Quick Stop Sunoco, located at 4998 Milford Rd., East Stroudsburg, is an 8 pump/16 hose gas stationwith a 5,000+/- s/f convenience store. The property is located near the Crossings at Marshalls Creek, Plymouth Meeting, PA — MSC Retai l, along with Samuels & Company, Inc. , jointly announced a lease transaction with LEGO- LAND Discovery Center, an indoor family attraction con- cept developed by Merlin En- tertainments plc (Merlin), at Plymouth Meeting Mall in Plymouth Meeting. The new location will occupy 33,000 s/f at the mall, where construc- tion will begin in summer 2016 with a grand opening projected for Spring 2017. LEGOLAND Di scovery Centers offer creative rec- reational activities derived from the traditional LEGO products, suited for children ages 3 to 10. The Plymouth Harrisburg, PA — Colliers International in Harrisburg represented both owner and tenant in the suc- cessful conclusion of a 4,400 s/f lease transaction at 110 N Second St. in Harrisburg.
Federal Hill Station
Quick Stop Sunoco
Baltimore, MD — Greysteel’s Mid-Atlantic retail investment sales team led by Gil Neuman has ar- ranged the sale of Federal Hill Station, an 11,450 s/f ur- ban retail building located at 1024-1030 Light St. in historic Federal Hill, Baltimore. The Property is 100% triple-net leased to Blue Moon Café at its expanded second downtown location, 130-seat Indian and Nepalese restaurant Hima- layan Bistro, and national chain Yoga Works. Greysteel served as advisor and agent to the seller, KL Light Street BROOKLYN, NY — Aca- dia Realty Trust and Wash- ington Square Partners , co-developers of City Point, announced that Fortina, the brainchild of chef, Christian Petroni, has signed a 15- year, 4,612 s/f lease to bring “straight forward Italian food” to the 1.8 million s/f, mixed- use destination in Downtown Brooklyn. Slated to open in the Fall of 2016, Fortina will be housed alongside DeKalb Market Hall, Brooklyn’s larg- est food destination, to serve residents, Downtown Brook- lyn’s workforce and visitors to the neighborhood. Fortina, with locations in Rye and Armonk, New York and Stamford, Connecticut, was inspired by Petroni’s childhood visits to Arthur Ave. as well as his trips to Italy and Spain. “Christian and Fortina em- body the spirit of what we’re trying to accomplish with City Point’s food component,” said Paul Travis , managing part- ner of Washington Square Partners. “When Fortina opens its doors, the restaurant is go- ing to provide people in Down- town Brooklyn, an area that is chomping at the bit for authen- tic, chef-driven restaurants.” Fortina will be located with- in the 60,000 s/f concourse-
LLC, and procured the buyer, Conflux Light Street LLC. Greysteel prior represented a different seller of nearby Shops at Federal Hill at 1100 Light St. with Unleashed by Petco and Dunkin’ Donuts. “Like our last Federal Hill sale the partners created value through repositioning a histor- ic property with new long-term triple-net tenants” said Gil Neuman, managing director. He added “The all-cash buyers acquired irreplaceable urban real estate in a dense highly coveted commercial area. We congratulate both parties.” n level space that will also house DeKalb Market Hall (30,000 s/f) and Trader Joe’s (18,000 s/f). Fortina’s 4,612 s/f space will feature a full-bar and two wood-burning ovens churn- ing out Petroni’s famed Luigi Bianco black truffle pizza pie, fried meatballs and Burrata, among many other selections. “We want Fortina to feel like home, a place where you can come with family and friends and enjoy laid back Italian cooking. City Point allows Fortina to be introduced to a new audience, the thousands of Downtown Brooklyn resi- dents who have been craving not only a place like Fortina, but an entertainment and shopping destination.” said Petroni. “I think people in the neighborhood will respect our authenticity and the love we put into the food we cook. I know my customers on a first name basis, I want them to come back time-and-time again, and that meshes with City Point’s philosophy – for us, this was a no-brainer.” Laurence Roberts , prin- cipal of Arch Brokerage , a boutique real estate firm and affiliate of Washington Square Partners represented Fortina; the landlord, Albee Develop- ment , was not represented. n
which includes Price Chopper and other retail stores. “We are very happy to have brought such a complex trans-
action to a successful finish. We wish the new owner con- tinued success,” Dan Perich said. n
MSCRetail and Samuels &Co. bring family attraction to Plymouth Meeting Mall
Meeting location, like other LEGOLAND Discovery Cen- ters, will include an original MINILAND exhibit which will be a unique display of the iconic landmarks in downtown Philadelphia. “As the only LEGOLAND Discovery Center in the re- gion, it was very important to select a location that had ex- ceptional accessibility to major highways and growing subur- ban markets, situated within an attractive leisure lifestyle environment,” said Michael Salove , president and CEO of MSC Retail. Salove and Dana Zamparelli , retail guru at MSC Retail, are the exclu- sive leasing specialists in the Greater Philadelphia Region The former restaurant site, located in downtown Har- risburg along “restaurant row” will be converted to an Indian grille concept, pri- vately owned and managed by Maa Annapurna, LLC. brands. Departments found in a Dollar Tree store include health and beauty, food and snacks, party, seasonal décor, house- wares, glassware, dinnerware, household cleaning supplies, candy, toys, gifts, gift bags and wrap, stationery, craft supplies, teaching supplies, automotive, electronics, pet supplies, and books. Most Dollar Tree stores also sell frozen foods and dairy items such as milk, eggs, pizza, ice cream, frozen dinners, and pre-made baked goods. In a second transaction, Hutchinson, tenant represen- tative of Fallas, worked with
for Merlin’s national advisor, Samuels & Company, Inc. “LEGOLAND Discovery Center will stimulate Phila- delphia’s growing experiential retail market, especially at Plymouth Meeting Mall, offer- ing a new opportunity for fam- ily fun and learning, as they have done elsewhere,” said Howard Samuels , president of Samuels & Company, Inc. LEGOLANDDiscovery Cen- ter will join a variety of retail- ers, including Macy’s, Orvis, J. Crew Factory, AMC Theatres, Dave & Buster’s, Whole Foods Market, and California Pizza Kitchen at Plymouth Meeting Mall, which is owned and oper- ated by Pennsylvania Real Estate Investment Trust . n The property owner is Sand- ton Capital. Larry Kostelac, William Aiello, George Lulos of Col- liers International, were the sole brokers in this transac- tion. n Angelo Pappas also of Char- ter Realty and Greg Lurie of Creative Realty to secure a lease for a 25,600 s/f location in Springfield Plaza 1225-1395 Liberty St.Springfield, MA. Fallas stores offer a wide se- lection of quality brand names and private label clothing for men, women, boys, girls, ju- niors, toddlers and infants. Along with clothing Fallas stores also offer a wide selec- tion of lingerie, shoes and home décor. Carol Hutchinson has been with Charter Realty Since 2011. n
Acadia Realty Trust announces 4,612 s/f lease in City Point
Harrisburg’s Colliers International concludes 4,400 s/f lease
Charter Realty &Development Corp. brokers Dollar Tree lease Hartford, CT — Char- ter Realty & Development Corp. announced, that Carol Hutchinson , broker of Dollar Tree, has secured a lease for a 13,274 s/f location at 10 School St. in East Hartford.
Dollar Tree, Inc. is an Ameri- can chain of discount variety stores that sells items for $1 or less. A Fortune 500 company, Dollar Tree is operates more than 4,900 stores through- out the 48 contiguous United States and Canada. Each Dol- lar Tree stocks a variety of products including national, regional, and private-label
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