M id A tlantic Real Estate Journal — Best of 2024 — March 2025 — 17B
www.marej.com
The BEST RETAIL SALE of 2024
The Dougherty Team of Marcus & Millichap Parkway Shopping Center
The Kislak Company, Inc. Uptown Plaza Harrisburg, PA
NAI Summit 1117 Union Boulevard Allentown, PA
Size: 1 56,066 SF Retail + Pad Site (13.87 Acres) Brokers: Robert Holland (seller); Barry Waisbrod (buyer) Built in 1957 and situated on approximately 14 acres, Uptown Plaza is a 156,066 s/f shopping center with a freestanding McDonald’s and additional pad site in a quiet, residential neighborhood in the northern part of Harrisburg. Consisting of two long strips of stores and two pad sites, the building structure is composed of one-story brick and block construction with glass and metal facades. Of the 30 stores in the center, many are national retailers such as H&R Block, Metro PCS, McDonald’s and Save-a-Lot with long-term tenancy at 60% occupancy at the time of sale. Repositioning and renting vacant space provide a valuable opportunity to increase revenues.
Location: Allentown, PA Size: 133,314 SF / 10.39 Acres Brokers: Colin Reder, Derrick Dougherty, and Scott Woodard Parkway Shopping Center, a 133,314 s/f retail hub on 10.39 acres in Allentown, PA, has been acquired. Positioned in the thriving Lehigh Valley, the center benefits from strong leasing momentum and NOI growth potential, with 40% of its GLA leased to credit tenants. Recent capital improvements, including upgrades to parking, lighting, signage, and tenant suites, enhance its appeal. Anchored by national brands and a diverse tenant mix, Parkway Shopping Center serves a growing population in PA’s third-largest city.
Size: 4,050 SF Brokers: Jennifer Kennedy & Frank T. Smith, CCIM The retail building located at 1117 Union Blvd. in Allentown, PA, sold to a local grocer, Antillana Meat Market. The new owner is expanding their operations to include this additional location in Allentown. The well-maintained 4,050 sq. ft. building, offering an off-street parking lot and a prime location on bustling Union Blvd., quickly went under agreement after hitting the market. NAI Summit brokers Jennifer Kennedy and Frank T. Smith represented the seller in this transaction.
The Dougherty Team of Marcus & Millichap Top Wawa Team in the Mid-Atlantic The BEST RETAIL TEAM of 2024
Levin Management Corporation North Plainfield, New Jersey The BEST FULLY INTEGRATED 3 RD -PARTY SERVICES PROVIDER of 2024
Levin Management’s distinction within its niche stems from the firm’s longevity (through more than seven decades of market cycles, the firm has “seen it all”) and fully integrated services including in-house property management, leasing, construction management and development, accounting and financial reporting, lease administration, marketing, and acquisition and disposition consulting services. With retail industry momentum fueling property owners’ focus on competitive positioning and reinvesting in their properties, LMC is experiencing historic volume for its in-house construction management practice – a capability that distinguishes it among its peers. Notably, the firm is currently implementing and overseeing approximately $78 million in redevelopment projects across its leased and managed portfolio. Highlighting LMC’s 13 active and imminent redevelopment projects are multi-million-dollar initiatives at Blue Star Shopping Center in Watchung, NJ, and West Orange Plaza in West Orange, NJ, along with center-wide renovations at Flemington Marketplace in Flemington, NJ. Additionally, today’s limited availabilities – and the appeal of free-standing buildings that support drive-thru service – have driven an increase in pad site development within the LMC portfolio. West Orange Plaza in West Orange, NJ
6 Wawa Locations Closed in 2024 | 4 More Under Agreement.
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