6A — March 25 - April 14, 2016 — Shopping Centers — M id A tlantic
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78 projects in 14 states Large retail power centers Grocery-anchored community shopping centers Corporate/Industrial business parks National Realty & Development Corp.
15-year NN, corporate-leased Buffalo Wild Wings Colliers Int’l concludes retail/ restaurant sale for $2.1million
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ANOVER, PA — Col- liers International ’s Investment Services Group in Harrisburg has ar- ranged the $2.1 million sale of a 15-year NN, corporate- leased Buffalo Wild Wings at 81 Wilson Ave., Hanover, PA. The closing date was February 22, 2016. The property con- sists of 5,437 s/f on 1.498 acres. Larry Kostelac , William Aiello , George Lulos of Colliers International , were the sole brokers in this transaction. n H WASHINGTON, DC — Marcus &Millichap , a lead- ing commercial real estate investment services firmwith offices throughout the Unit- ed States and Canada, an- nounced the sale of 4620-4632 14th St. NW, a 5,390 s/f retail property located in Washing- ton, DC, according to Bryn Merrey , district manager for the Mid-Atlantic region. The asset sold for $2.05 million. This closing price represents $380 psf, the current record for C-1 zoning in the 14th Street Corridor, per CoStar . “This transaction is a true testament of the strength of the market combined with our marketing platform,” associate Cameron Webb said. “By working with a local retail brokerage team within the firm, Stacey Milam and I were able achieve a closing price that pleased both the sellers and the investors.” Stacey Milam, first vice president investments, and Josh Feldman , associate vice president investments both in Marcus & Millichap’s
3 Manhattanville Road, Suite 202 Purchase, NY 10577
81 Wilson Ave.
2/1/16 12:57 PM Marcus & Millichap arranges the $2.05m sale of 16th Street heights strip center
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4620-4632 14th St. NW
“The planned developments indicate a promising future for the area.” The property, which con- sists of seven contiguous retail storefronts, is located approximately one mile from the Georgia Ave-Petworth Metro Station on the green line. “This transaction is evidence that investors are still being aggressive but are becoming very selective in the deals they go after,” Wilson concluded. “There has to be underlying value and a clear path to real- izing that value.” n The new +/- 1,500 s/f loca- tion for Jules Thin Crust is located next to Mamoun’s Falafel Restaurant. Metro Commercial helped secure their site in the heart of the retail corridor of Witherspoon St. with strong foot traf- fic, easy accessibility to the university and ample public parking. The new restaurant is set to open Summer 2016. n
Washington, DC office, had the listing to market the property on behalf of the seller, an out-of-market trust. BenjaminWilson , Cameron Webb, and Ian Ruel , associ- ates in the firm’s local office, also provided representation. The buyer, a partnership of private investors, was also secured by the team of local brokers. “The buyers for this prop- erty see the potential the 16th Street Heights neighborhood has for patient investors interested in value-add op- portunities,” Milam said.
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Jules Thin Crust to open its 10th location in Princeton, NJ PRINCETON, NJ — Jules Thin Crust is excited to an- nounce their 10th location will be opening in Princeton, NJ (18 Witherspoon St.) with the help of Metro Commercial Real Estate . Mike Mur- ray and Amanda Walker of Metro Commercial repre- sented Jules Thin Crust in the transaction. more, PA; Jenkintown, PA; Wayne, PA; and Horsham/ Mont, PA; and Cherry Hill, NJ.
Jules Thin Crust offers a va- riety of affordable and healthy pizzas, including gluten-free and vegan, made with the freshest ingredients available. Other locations include Ard-
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