S hopping C enters
Big Lots Shopping Center sells for $3.25 million in West Virginia Colliers International facilitates the sale of Centennial Commons SC for $4.47 million H www.marejournal.com M id A tlantic Real Estate Journal — Shopping Centers — November 27 - December 10, 2015 — Section C ANOVER, PA — Col- liers International in Harrisburg recently
concluded the sale of Cen- tennial Commons Shopping Center located at 3744-80 Cen- tennial Rd. in Hanover. The 48,220 s/f shopping center was purchased by Becrett, LLC for $4.47 million. The seller was Conewago Contractors, Inc. Retail tenants include Food Lion (anchor), Dollar General, and Subway. The Harrisburg team also concluded the sale of the Big Lots Shopping Center located
Centennial Commons Shopping Center
Big Lots Shopping Center
NOVEMBER 27, 2015
at 1275 N. Queen St. in Mar- tinsburg, WV. The 58,258 s/f shopping center was purchased by America’s Realty, LLC for $3.25 million. The seller
was Western Enterprises, Inc. This retail asset serves the largest population center in the eastern panhandle of West Virginia, part of the “outer belt-
way” of Washington DC. It will continue to function as a retail shopping center with mainstay national tenants such as Good- will, Big Lots and Aaron’s.
The Colliers Harrisburg team of William Aiello , George Lulos and Larry Kostelac represented the sellers in both of these transactions. n
HI-LIGHTS ICSC NY National DealMaking Issue
Levin Management announces rooftop solar project at 360,000 s/f shopping center
EWING, NJ —North Plain- field, NJ-based Levin Man- agement – one of the nation’s leading retail real estate ser- vices firms – has announced plans to install rooftop solar panels at 1001 Spruce Office Center, the office component of Capitol Plaza in Ewing. Levin is leasing and managing agent for the 360,000 s/f Mercer County shopping center. Vanguard Energy Part- ners of Branchburg, NJ, a na- tional solar construction firm, has been selected to design, in- stall and maintain/operate the rooftop solar system. Construc- tion is scheduled to commence later this year or early 2016. According to Bob Carson , Levin’s executive vice-presi- dent, the project underscores the company’s proactive ap- proach to property manage- ment, and is designed to im- prove the office building’s en- vironmental and operational efficiencies. “We are always looking for new ways to en- hance the value of the shop- ping centers we manage, with projects that will uphold and enhance our clients’ proper- ties and, ultimately, their competitive position in the
“A fresh start: Northeast region ripe for renova- tion & redevelopment”
3C By Richard Birdoff, RD Management
contributed to the economic feasibility of this project, ac- cording to Carson. “The benefits of installing rooftop solar energy panels really are twofold: we are creating economic value at Capitol Plaza while at the same time reducing our carbon footprint,” he said. “A number of our larger big box tenants have expressed interest in undertaking similar projects, and these sustainable green initiatives are something that, as a company, we are continu- Capitol Plaza (left) and Bob Carson
marketplace,” he said. “This project represents our com- pany’s first foray into solar energy, and we are excited to put this technology into place at Capitol Plaza.” The rooftop solar panels are expected to increase efficiency and reduce annual utility costs by supplementing 1001 Spruce Office Center’s electric power with a clean, alternative energy source. Government tax credits and other incen- tives that encourage the use of green building practices
ing to explore.” The center’s diverse mix of national and regional tenants including dd’s Discounts, For- man Mills, Marshalls, Save- A-Lot supermarket, American Furniture, Planet Fitness, Harbor Freight Tools, Ashley Stewart, GNC, the U.S. Armed Forces Career Center, Foot Locker and Kicks USA, along with numerous service and restaurant tenants. Capitol Plaza also is home to the newly expanded 30,500 s/f Jersey College. n
Nassimi Realty acquires 92,828 s/f Warwood Plaza in WV
6C
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