M id A tlantic Real Estate Journal — Retail Development Reimagined — September 25 - October 15, 2020 — 11A
R etail D evelopment R eimagined
Issenberg Britti Groupwith assistance of Beuche ink deal Marcus&Millichap arranges sale of walgreens for $5.7M
Bennett Williams Commercial complete 12.80 acre sale
LLENTOWN, PA — Marcus & Millichap announced the sale of Walgreens, a 15,064 s/f net- leased property located in Allentown, according to Ryan Nee , regional manager of the firm’s Miami office. The asset sold for $5.75 million. The buyer was secured and represented by Gabriel Britti, Ricardo Esteves and Ronnie Issenberg , investment spe- cialists inMarcus &Millichap’s Miami with assistance fromPA regional manager and broker of record, Sean Beuche . “This was a 1031 replace- Fox and Zarpas of DRE broker 4,800 s/f lease A Suffolk West Plaza VIRGINIA BEACH, VA — Divaris Real Estate, Inc. (DRE) announced the following transactions: The Fishin’ Hole leased 4,800 s/f of retail space in the Divaris-leased Suffolk West Plaza located at 837 West Constance Rd. in Suffolk, VA. George Fox and Caroline Zarpas represented the land- lord in the lease negotiations. Fresenius Kidney Care re- newed its lease for 4,800 s/f of retail space in the Divaris- leased and -managed Armory Plaza located at 1311 Armory Dr. in Franklin. Fox repre- sented the landlord in the lease negotiations. JPM Real Estate Va, LLC purchased the 3,825 s/ f Dunkin and Subway leased strip center located at 208 Birdneck Rd. North in Vir- ginia Beach from Kaveri En- terprises, LC for $1,377,500. George Fox represented the buyer in the investment sale. The buyer owns and operates the Dunkin at this location. Taco Vamonos leased 1,800 s/f of retail space in Hayes Shopping Center lo- cated at 7254 George Wash- ington Memorial Highway in Hayes, VA. Kris Fuller and George Fox represent- ed the tenant in the lease negotiations. MAREJ
170 Crossway Dr.
I-83 & Leader Heights Road. The very robust demographics, and a short drive time from Baltimore MD, Harrisburg, PA and Lancaster attracted many buyers to the site and ulti- mately South County Brewing was the buyer for a sale price of $1.1 million. MAREJ
YORK TWP., PA — Keith Kahlbaugh and Dennis Nei- man of Bennett Williams Commercial represented the seller and buyer in the sale of 12.80 acres of commercially zoned land located at 170 Crossway Dr., York Twp. The property offers direct access to
1702 W. Tilghman St.
ment property for our client who assumed the in-place CMBS loan supporting the strong demand for essential business, single tenant proper- ties,” said Issenberg.
Walgreens is located at 1702 W. Tilghman St. in Allen- town, PA. “There is 14+ years remaining on an original 20- year, absolute net lease,” said Esteves. MAREJ
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