Real Estate Journal — The Best of 2016 — March 24 - April 13, 2017 — 9C
www.marejournal.com
M id A tlantic
The Largest retail Sales of 2016 HFF Essex Green West Orange, NJ Equity Retail Three Grocery-Anchored Shopping Centers in Philadelphia
JLL 1520Chestnut / 1501-05Walnut Philadelphia, PA
Ken McEvoy & Ed Ginn
Size: 225,000+ SF Brokers: Ken McEvoy & Ed Ginn
Size: 350,000 SF Brokers: Jose Cruz, Kevin O’Hearn, Stephen Sim- onelli, Andrew Scandalios and Chris Munley. HFF sold the property on behalf of a global invest- ment manager to Clarion Partners, who purchased the asset for $101.8 million in what was one of the largest retail sales in New Jersey in the last two years. The property is the largest community shopping center in Essex County and is 96% leased to tenants, including ShopRite, Macy’s Backstage, a 9-screen AMC The- atre, Petco, TGI Fridays and Panera Bread, among others.
Ken McEvoy and Edward Ginn of Equity Retail Bro- kers’ Investment Sales division brokered the sale of three grocery-anchored shopping centers in the Phila- delphia suburbs. The shopping centers include the Giant Marketplace, an 88,000 square foot center anchored by Giant Food Stores in Bensalem, Bucks County; Media Shopping Center, a 75,000 square foot center anchored by Acme Markets in Media, Delaware County, and the Shoppes at Lionville Station, a 79,000 square foot center in Exton, Chester County.
Size: 66,675 SF Broker: James Galbally, John Plower, Erin Miller, Chad Orcutt JLL has closed the sale of 1520 Chestnut Street and 1501-05 Walnut Street. PH Retail purchased the two buildings totaling 66,675 SF of retail space in the Phila- delphia CBD from PREIT for $45,000,000.
The Largest retail leases of 2016
Goldstein Group Floor & Décor City Paramus, NJ
Equity Retail Gander Mountain Warrington, PA
Divaris Real Estate Laurel Glen Shopping Center California, MD
Size: 62,000 SF Broker: Chuck Lanyard, President
Size: 57,497 SF Broker: Susan McGee
Size: 52,700 SF Brokers: Rob Samtmann & Brian Wherty
Floor & Décor, founded in 2000, is a provider of high quality flooring and tile at affordable prices. They currently have over 70 locations nationwide. Floor & Decor leased the 62,500 sf freestanding building formerly occupied by Sports Authority. The new loca- tion is strategically located at the Route 17 and the entrance to the Paramus Park Mall. This will be their third New Jersey location once they open shortly. “This was the largest retail space leased in Paramus and Bergen County this year,” stated Chuck Lanyard. “I am pleased to bring this great national tenant to Paramus.”
Equity Retail Brokers Principals Rob Samtmann and Brian Wherty recently represented Gander Mountain in leasing 52,700 SF at Warrington Crossing in Warrington, Bucks County, Pennsylvania. Equity Retail Brokers was instru- mental in determining and providing the necessary infor- mation to support Gander Mountain opening a store in the Philadelphia market. Using detailed demographic data and analysis, information including hunting and fishing licens- es, long gun and hand gun sales and critical outdoor recre- ation sales information, Rob Samtmann and Brian Wherty were able to show the value that the Philadelphia Market would bring to Gander Mountain in comparison to other existing store locations.
Hobby Lobby leased 57,497 SF of retail space in the Divaris-leased Laurel Glen Shopping Center lo- cated at 45315 Alton Lane in California, MD. Hobby Lobby is an Oklahoma City-based chain of retail arts and crafts stores that operates 600 store locations na- tionwide. Other tenants in Laurel Glen include: Food Lion, CosmoProf, Advance Auto Parts, Long & Fos- ter Real Estate, Sterling Optical, and Cricket Mobile. Susan McGee of DRE represented the landlord, Shan- ri Holdings Corp in the lease negotiations.
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