6A — June 28 - July 11, 2019 — Shopping Centers — M id A tlantic
Real Estate Journal
www.marej.com
S hopping C enters
Grocery-anchored retail center sells in Lancaster, Pennsylvania HFF closes sale of grocery-anchored retail center in suburban Baltimore
N
in a dominant retail node just north of the Interstate 95/695 interchange. Within a three- mile radius of the center are more than 80,000 residents earning an average annual household income of nearly $94,000. The HFF team representing the seller was led by manag- ing director John Owendoff and senior director Jordan Lex . HFF has closed the sale of Chelsea Square, a 96,455 s/f, grocery-anchored shopping center in Lancaster, PA. HFFmarketed the property on behalf of the seller, Bea- con Communities . Good- man Properties purchased the asset. Chelsea Square is anchored by Weis, a regional grocer undergoing a period of rapid growth, and is also home di- verse tenant roster of mostly internet-resistant tenants, including Talbots, Jos. A. Bank, M&T, Domino’s Pizza, Great Clips, The Lighting Gallery and ModernEyes Op- tical. Situated on 10.67 acres at 1603-1653 Manheim Pike, the center is located along a retail corridor with visibility to 46,000 vehicles per day and has direct access to the Pennsylvania Tpke. (Inter- state 76) and U.S. Routes 30, 222 and 283. More than 58,000 residents earning an average annual household income of $105,698 live within a three-mile radius of Chelsea Square. The HFF team representing the seller included managing director Chris Munley and senior director Carl Fiebig . “Chelsea Square was ac- quired as a broader portfolio transaction,” said Michael Alperin , BeaconCommuni- ties acquisitions and strategic initiatives director. “Beacon Communities is happy to get this real estate in the right local owner’s hands through Goodman Properties. Munley and his team were excellent to work with for a seller more versed in multifamily rather than commercial real estate.” “We have seen an uptick in investor interest within the Lancaster market,” Munley said. “With positive demo- graphic trends and sound existing retail fundamentals, we expect to see continued transactional activity from new-to-market investors, specifically in the grocery- anchored space.”
OTTINGHAM, MD — Holliday Feno- glio Fowler, L.P.
(HFF) has closed the sale of Nottingham Commons, a 131,270 s/f, fully leased, core shopping center in Notting- ham within the Washington- Baltimore metro area. HFF marketed the prop- erty on behalf of the seller, Weingarten Realty Inves- tors . Frankel Properties purchased the asset and was assisted in the transaction by Willard Retail.
Nottingham Commons
Chelsea Square
T.J.Maxx, DSW, Petco and Five Below. Additionally, the center is home to an at- tractive line-up of food and
service tenants, including Zoës Kitchen, Nalley Fresh, Chipotle, Applebee’s, My- EyeDr., Massage Envy and
AAA. Situated on 18.36 acres at the intersection of Camp- bell Blvd. at Franklin Square Dr., Nottingham Commons is
RE_ad_version1.qxp 11/2/2005 11:54 AM Page 1 Completed in 2016, Notting- ham Commons is anchored by MOM’s Organic Market,
Seeking Retail Opportunities Consistently Ranked #1 Franchise - 50+ Y ear T rack Record
Looking for sites in PA & S. NJ End Cap, In-line, Free Standing Flexible Space Requirements
Non-Traditional Venues - Hospitals/Colleges Universities/B&I/Stadiums/Casinos/Airports
Eastern PA — Local Contacts: Philadelphia PA & Southern NJ —
610-366-8120 x 24, Cheryl Green green_c@sdepa.com 410-752-6760, Evan Brodie evan@sandhumanagement.com
realestate.subway.com www.subway.com
facebook.com/SDEPA1
Made with FlippingBook Annual report