S hopping C enters

Porter of NGKF Capital Markets represents HLC Equity in 27,699 s/f property sale HLC Equity purchases Rite-Aid in Lansdale, PA totaling $4.063 million L www.marejournal.com M id A tlantic Real Estate Journal — Shopping Centers — 3A ANSDALE, PA — HLC Equity has pur- chased an 11,180 s/f

the building has traded hands in 30 years; HLC Equity pur- chased the property in the late 1970s as a core investment asset. Because of its versatility and location, one block from the Bronxville Metro North station, 12-14 Cedar Street is considered one of Westchester County’s trophy properties. Lawrence “Chip” Por- ter , managing director of NGKF Capital Markets , represented HLC Equities in this transaction. Canonsburg, PA — HLC Equity announced the purchase of 601 West Pike St., Canonsburg. The tenant Rite Aid occupies the 13,825 s/f retail space on the terms of a triple-net-lease. Dean Zang , First VP of Investments at Marcus & Mil- lichap brokered the sale of the store. n

property, located on a 1.2-acre pad at 10 W. Main St. in Lans- dale. The tenant, Rite-Aid, currently occupies the building under a long-term triple-net- lease. More than 14,000 people reside within a single-mile radius of the Rite-Aid store, This provides a large and long-standing customer base, and due to the town’s growth, its government is in the pro- cess of building a new, multi-

10 W. Main St.

Dec. 26, 2014 - Jan. 15, 2015

million-dollar municipal center one block from the Rite Aid property. BRONXVILLE, NY —HLC Equity announced the sale of 12-14 Cedar St. in Bronxville,

which currently houses long- time tenant A&P under the terms of a triple-net lease. The only supermarket in the idyllic southern Westchester village, which ranks as one of

the 20 wealthiest municipali- ties in the U.S., the 27,699 s/f building sits on a .73-acre lot that is frequented by residents in the area. This marks the first time

HI-LIGHTS Rhino Realty Group recent deals include Petco & Kirklands

Steven Gartner joins the company as an executive VP for retail services CBRE’s Stevens, McClernon, and Tourtellotte broker sale of the Peirs Shops at Caesars

Philadelphia, PA — CBRE, Inc. has brokered the sale of The Piers Shops


Discount Dance Supply expands in Mericle building

at Caesars in Atlantic City to Tower In- vestments. The sale of the luxury s h o p p i n g destination, connected to Caesars Ho-

Steven Gartner


tel and Casino, continues the story of the ongoing dynamic shifts in Atlantic City, and represents a positive devel- opment for the city. Peter Stevens, KevinMcClernon, and William Tourtellotte from CBRE represented the seller. “This is a tremendously unique and complex property,” said Stevens, executive vice president in CBRE’s Wayne, PA office. “The mall was widely marketed to qualified retail investors and there was significant competitive inter- est by potential buyers looking

Ripco sells former Electronics Expo in Paramus, New Jersey

The Piers Shops at Caesars in Atlantic City

to take on the challenges of repositioning the property.” Constructed in 2006, the 290,210 s/f luxury shopping hub is uniquely situated at 1 Atlantic Ocean and was built on a pier that extends 900 feet from the New Jersey shore-

line overlooking the Atlantic Ocean. In other CBRE news, Ste- ven Gartner will join the company as an executive VP for retail services. Gartner is a leader in the retail real estate industry, and has received na-

tional recognition during his previous 10 years as president of Metro Commercial Real Es- tate in Philadelphia, including three years as the state direc- tor of the International Coun- cil of Shopping Centers (ICSC) for the PA/NJ/DE region. n


ALSO Retail Brokerage Directory ......... 13B www.marejournal.com

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