18A — February 2025 — Central Pennsylvania — M id A tlantic Real Estate Journal
www.marej.com
C entral P ennsylvania
IPA brokers Colussi & Nathanson handle 147,916 s/f deal Agora Commercial acquires $15.2M Summerdale Plaza
A legacy of client success since 1984 CAMPBELL Commercial celebrates 40 years in CRE
NOLA, PA — Phila- delphia-based Agora Commercial Realty Advisors has acquired Sum- merdale Plaza, a 147,916 s/f shopping center located in Enola, just west of Harrisburg, for $15.2 million. The center — which was 80 percent leased at the time of sale — is anchored by Tractor Supply, AutoZone, Family Dollar, Dollar Tree, Rite Aid and the Pennsylvania Department of Transporta- tion. JP Colussi and Brad Nathanson of IPA repre- sented the buyer and seller in the transaction. MAREJ E YORK, PA — Landmark Commercial Realty an- nounced the successful settle- ment of Courthouse Commons, an 18-unit apartment complex located in Downtown York. Mike Rohm, MAI, CCIM , and Kevin Agnew , both of Landmark, represented the seller and procured the buyer. Mike and Kevin ensured the property received maximum exposure through a compre- hensive marketing campaign. This campaign resulted in over 70,000 unique views across various commercial platforms, including nearly 3,000 views from their property list of re- gional investors. The property sold for $3.7 million, achieving a record- breaking price of $205,000 per unit. According to a market survey, this is the highest sale price per unit for an apart- ment complex in Downtown York. According to Homes. com, the average sale price for homes in Downtown York over the past 12 months was $169,033, highlighting the significant premium achieved in this transaction.
Shown from left: Monica Stofko, Larry Kostelac, III, Jessica Gasper, Art Campbell, and Tyler Matisse.
Lemoyne, PA — Starting his career in real estate in 1975, Art Campbell opened his own real estate firm in 1984. In 2024 he brought longtime associates, Jessica Gasper and Larry Kostelac in as equal partners forging Campbell Commercial Partners LLC. With over 80 years of com- bined experience, CAMPBELL Commercial Partners LLC is a leading firm dedicated to the commercial real estate indus- try. The team prioritizes client objectives, education and spe- cialization to ensure success. Art Campbell and his team have received numerous busi- ness and industry awards, such as the CPBJ Success and Leadership ICON Award, West Shore Chamber Business Achievement Award, Leader - ship in Real Estate Award and REALTOR of the Year. They believe success comes with community responsibility and are actively involved with area non-profits including Girls on the Run, United Way, and the Salvation Army’s WIN
program, as well as coaching high school sports. CAMPBELL Partners’ stead - fast focus in sales, leasing, valuation and financing allows the firm to handle some of the area’s largest real estate trans- actions. Representing many of the area’s most recognizable companies and institutions, CAMPBELL has worked on transactions for West Shore Home, Schaedler Yesco Dis- tribution, HACC, Partners in Women’s Health, Merakey, Planet Fitness, Springwood Hospitality, Members 1st, Low - er Allen Township, F&M Trust, Dawood Engineering, Boyer & Ritter, LANE Enterprises, and Miller’s Mutual, just to name a few. Although small by design, their productivity is unmatched, consistently hold- ing one of the area’s highest per-agent transaction volume. CAMPBELL Partners is dedicated to the success of their clients and looks forward to continuing to serve the Pennsylvania region for many years to come. MAREJ
Summerdale Plaza
Landmark Commercial Realty’s Rohm, MAI, CCIM & Agnew broker sale of Courthouse Commons
Mike Rohm, CCIM, MAI, said on the transaction, stat- ing, “The transaction high- lights sustained investor de- mand for class A product at premium prices despite the elevated interest rate environ- ment. Discount to replacement cost and supply constraints in urban areas have contributed to compressed capitalization rates as investors anticipate continued rent growth for ex- isting inventory.” He further added, “The transaction also underscores the demand for new construction, as rising utility, insurance, and main- tenance costs outpace rent growth in many of the B and C properties we serve.” The success of this transac- tion can be attributed to sev- eral key factors. Accurate pric- ing strategies ensured that the property was listed at a com- petitive price, maximizing the seller’s return while attracting serious buyers. Detailed mar- ket analyses provided a strong foundation for negotiations, helping to secure the best pos- sible terms for both parties. Additionally, a deep under-
standing of local market trends and property values allowed for the identification of the right buyer for Courthouse Com- mons. By providing an apprais- al-level review before the buyer committed to the property, transparency was ensured, and the risk of valuation-related issues was minimized. This approach led to a smoother and more efficient sale process, ulti - mately resulting in a successful transaction. The sale of Courthouse Com- mons also has a positive impact on the community. The prop- erty, which features modern amenities and a prime location, helps to address the housing needs in Downtown York. With its proximity to local at- tractions such as the Appell Center for the Performing Arts and Central Market, Court- house Commons enhances the vibrancy and appeal of the downtown area. The successful transaction not only sets a new price benchmark but also contrib- utes to the ongoing revital- ization and growth of the community. MAREJ Group leased space from Y & S Nikon. Bob Behler of Bennett Williams Commercial repre- sented the landlord. Tyler Gettel of Bennett Williams Commercial represented the tenant in the transaction. 1,508 s/f office space at 2200 S George St., York, York County, PA. Edward D. Jones & Co. LP leased space from Y & S Nikon. Bob Behler of Bennett Williams Commer- cial represented the landlord in the transaction. MAREJ
ROCK CRE completes sale of 6,784 s/f office investment property
YORK/LANCASTER, PENNSYLVANIA — ROCK Commercial Real Estate , an industry leader in South Cen- tral Pennsylvania, announced that Steven G. Ricklefs, Eliza- beth K. Ricklefs and Ann C. Pettigrew, V.M.D. sold 199 Leader Heights Rd. in York, PA to SMDP LLC for $1,300,000. The 6,784 s/f office investment property is fully-leased to Lead - er Heights Animal Hospital. ROCK Commercial Real Es - tate managing partner, Da- vid L. Bode, CCIM, SIOR represented the owner while ROCK brokerage advisor, Kev- in Hodge, CCIM represented the buyer. “The buyers recognized the strength of the tenant and prime location through ROCK’s
Bennett Williams announces recent transactions in Central PA
1,600 s/f retail space at 2357 E 3rd St., Williamsport, Lycoming County, PA. J. Sch - roder & C. Schroder & Snowy River, Inc leased space from KNS Development LP. Kandy Weader and Luke Higgins of Bennett Williams Commer- cial represented the tenant. Lehman, Shaffer, Rohrbaugh, and Stine represented the landlord in the transaction. 988 s/f office space at 2200 S George St., York, York County, PA. DMB Financial
YORK, PA — Bennett Williams Commercial has arranged the sale/lease of the following transactions: 2,036 s/f retail space at 3761-3777 Peters Moun- tain Rd., Halifax, Dauphin County, PA. T. and G. Hock- ley leased space from U & Me 3 LLC. Ashlee Lehm - an, Blake Shaffer, Brad Rohrbaugh, and Chad Stine of Bennett Williams Commercial represented the landlord in the transaction.
199 Leader Heights Rd.
efforts, and personally rein- forced by being a customer of the Leader Heights Animal Hospital,” said Hodge. The facility, conveniently located just two blocks off I-83 and surrounded by residential, offers both stability and growth for investors. MAREJ
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