Real Estate Journal — August 28 - September 10, 2015 — 3A
www.marejournal.com
M id A tlantic
M id A tlantic R eal E state J ournal Handled by Jim Panczykowski of Binswanger Binswanger brokers sale of 75,080 s/f facility for $10.2m
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ANOTHER SUCCESSFUL TRANSACTION $16,500,000 New Jersey Health Care Center SIZE: 94,556 SF CITY: ORADELL, NJ LENDER: LIFE COMPANY
ALLENTOWN, PA — Patterson-Woods Com- mercial Properties/COR- FAC Internat ional , a full-service commercial real estate provider serving the Mid-Atlantic market, an- nounced the sale of a nurs- ing home facility, Liberty Nursing & Rehabilitation Center, located in Allentown, PA. The four-story property measures 43,420 s/f. The property was sold by Liberty Allen Square, LLC to Owl’s Next Properties, LLC, a 1031 exchange-triple net investor with investments in the greater Wilmington, DE area, for $4.65 million. Chris Moore , a sales and leasing agent with Patter- son-Woods, represented the buyer in this transaction. The buyer was referred to Moore by John Osborn of Patterson-Osborn Ex- change Services . Fein- berg Real Estate Advi- CHERRY HILL, NJ — Kaplin Stewart Meloff Reiter & Stein, PC is pleased to announce that we are relocating to THE COMMERCE CENTER, 1800 Chapel Ave., W., Suite 320, Cherry Hill, NJ 08002. Phone: 856-675-1550. Our HI LADELPHI A , PA — Binswanger represented Aramark in the $10.2 million sale of a Bronx, NY facility. The Bronx property located at 850 East 138th St. in the Bronx will house the con- solidated operations of The Department of Parks & Rec- reation Five-Borough shops. Built in 1988, the two-story building was initially used as a commercial laundry operation with second-story warehousing. Key features include open floor plates, at- tractive ceiling heights and a gated parking lot. Located in the Port Mor- ris section of the Bronx, the former Aramark facility has excellent access to the Bruck- ner Expressway as well as the Willis Avenue Bridge. One of the premier indus- trial areas of the immediate P
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850 East 138th St.
New York City metro-area, the South Bronx is a highly desirable location for NYC- centric operations because of its accessibility to and from Manhattan as well as Queens, lower Westchester County, New York and lower Fairfield County, Connecti- cut. The recent sale was han-
dled by JimPanczykowski of Binswanger’s New Haven, Connecticut office. Headquartered in Phila- delphia, PA, Binswanger is an international full-service real estate organization with offices worldwide throughout the United States, Canada, Latin America, Europe, the Middle East, and Asia. n
STRUCTURAL ENGINEERS
www.keasthood.com Philadelphia | Washington
Patterson-Woods/CORFAC Int’l facilitates $4.65 million sale
Serving building owners, developers, real estate professionals, and architects since 1953.
Liberty Nursing & Rehabilitation Center
Renovations & Additions
New Construction
floor into a specialized care unit. “This Allentown, PA in- vestment fit nicely with the desire of our client to move his investment dollars from his intensive, self-managed properties, to a lower im- pact real estate investment, backed by a well executed 20+ year lease with a high quality tenant,” saidMoore. n
sors, LLC represented the seller. The facility, built in 1969, will continue to be leased by Health Care and Retirement Corp. of America, a division of Manor Care. This pur- pose-built facility has gone through several rounds of upgrades, including interior remodeling, HVAC replace- ment, and conversion of one phone number and email addresses will remain un- changed. We were fortunate to find such an attractive space so close to our current office. We wanted to limit the impact that a relocation could have on our clients and our employees. Our new lo-
cation will help us continue to grow and evolve to keep up with our client’s needs, allowing us to provide ex- ceptional value and superior service. We look forward to working with current cli- ents, as well as welcoming new clients and referrals. n Kaplin Stewart announces NJ relocation
Condition Assessments
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400 Market Street, Suite 1250 Philadelphia, PA 19106 215.625.0099 1350 Connecticut Avenue NW, Suite 412 Washington, DC 20036 202.223.1941
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