March 2023

S hopping C enters P ennsylvania

M id A tlantic Real Estate Journal — Pennsylvania — March 2023 — 9B

Heidenberg Properties sells grocery-anchored retail center in Pennsylvania JLL Capital Markets arranges sale of 229,724 s/f Hershey Square in Hummelstown, PA


value-add plan, and dur- ing their hold period, they successfully backfilled a va- cant K-Mart box with best- in-class tenants, including Planet Fitness, TJMaxx, Big Lots and Five Below. Ad- ditionally, they were able to attract Chipotle, Starbucks and Aspen Dental on pads, further driving the value of the center,” said Behr. “Hershey Square is indica- tive of what is in demand and pricing to a premium from private and public investors alike. High-quality, gro- cery-anchored product with growth prospective is and will continue to be the most sought-after retail invest- ment target,” stated Munley. “The grocery-anchored seg- ment within the retail asset class remains incredibly active. The sale of Hershey Square represents the 20th grocery-anchored shopping center that we have sold in the last six months,” said Galbally. MAREJ

UMMELSTOWN, PA — JLL Capital Markets announced

that it has closed the sale of Hershey Square, a 229,724 s/f, grocery-anchored retail center situated in Hummel- stown, Dauphin County. JLL represented the seller, Heidenberg Properties . Built in 1994, the 98-per- cent-occupied Hershey Square is anchored by Weis, Big Lots and T.J. Maxx. Additional notable tenants include Planet Fitness, Five Below, Chipotle, Goodyear, AT&T, Verizon, Panera, Five Guys and VisionWorks. 55% of the property’s income de- HI-LIGHTS NAI Global names Alderman among 2022 top 100 producers

Hershey Square

rived from credit tenancy and 81% of gross income is from its national tenant lineup. The Weighted Remaining Lease Term is 7.2 years. Situated at 1130-1198 Mae St., the property is located along the highly trafficked Route 422 corridor, provid- ing great visibility from ap- proximately 50,000 vehicles TELFORD, PA — Moove In Self Storage announced the acquisition of Rockhill Mini Storage in Telford. Rock- hill is positioned in the Phila- delphia- CamdenWilmington MSA, the 7th largest in the U.S. The property is located on State Rd. with excellent vis- ibility from heavily-traveled PA Highway 309 and PA Route 152. This stabilized 74,001 NRSF facility consists of 10 tradi- tional drive-up storage build- ings and two over-under inte- rior storage buildings, totaling 694 units. The property also features one fully-leased office build- ing containing seven private offices, including the storage rental office, which will be operated and managed by Moove In. Now called Moove In -Tel- ford, this property will be re- branded to reflect Moove In standards to maximize value. Additional capital expendi- tures include the installation

per day and frontage along a major retail thoroughfare in the York County submarket. The signalized intersection along Route 39 provides ease of access to the center. Additionally, the property is three miles from Hershey Park, which receives ap- proximately 3,000,000 visits per year.

The JLL Retail Capital Markets Investment Sales and Advisory team that rep- resented the seller was led by senior managing director Christopher Munley and Jim Galbally and managing director Colin Behr . “This is quintessential Heidenberg execution. They flawlessly executed on their

Moove In Self Storage expands portfolio into Telford

operations; usher new acqui- sitions into the portfolio, and implement new processes and tools. Prior to joining Moove In, Lewy led operations for Snap- box Storage and for ezStorage prior to that. Before breaking into the storage industry, Shaun worked for Mattress Discounters, working his way up from salesperson to vice president of sales after 13 years with the company. “Shaun’s over 10 years of experience and passion for the storage industry will help us to continue to grow the Moove In Self Storage brand,” said Chris Riley , president and COO of Moove In. “He has successfully dem- onstrated expertise in leading sales and operations teams, developing people, recruit- ing, training, and improving departmental efficiencies, amongst many others, and we look forward to his contribu- tions to our team for many years to come.” MAREJ

LMS & Paramount Realty Services announce branding alignment 12B

Rockhill Mini Storage in Telford. Rockhill

of bollards, gates and keypads, interior and exterior lighting, new signage, and a state-of- the-art security system. In other news, Moove In Self Storage has announced the hiring of Shaun Lewy as the vice president of operations.

Lewy will be responsible for providing oversight for over 60 Moove In stores as well as dozens of staff throughout the region. He will work to develop and strengthen individuals and teams for efficient, effective


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