R etail D evelopment R eimagined
M id A tlantic Real Estate Journal — Retail Development Reimagined —April 2023 — 3A
www.marej.com
Cindy McDonnell Feinberg, CCIM of Feinberg Real Estate Advisors represents tenant Larken negotiates long-term lease with ortho- pedic specialty practice in South Whitehall, PA
S OUTH WHITEHALL, PA — Larken Associ- ates , one of the regional leaders in real estate building, development and manage - ment, announced it has nego - tiated a new, long-term lease with OAA Orthopaedic Spe - cialists at Tilghman Square Shopping Center located at 4680 Broadway Rd. in South Whitehall. Larken Associates was represented by Derek Zerfass and Scott Horner of Colliers and the tenant was represented by Cindy McDonnell Feinberg, CCIM of Feinberg Real Estate Advisors . OAA Orthopaedic Specialists’ suite will be lo - cated at 4652 Broadway Rd. Located near the intersec - tion of Interstates 78 and 476, Tilghman Square Shopping Center is a 35.75-acre com - mercial shopping center with 248,533 s/f of retail, medical, office and restaurant space.
new location promises each pa - tient easy access and allowed us to design a space tailored around our unique physician- led and provider/therapist team-based therapy model – the only offering of its kind in the Lehigh Valley.” Victor Kelly , executive vice president of Raider Realty , the in-house brokerage division of Larken Associates added, “Securing a new, long-term lease to bring such a well- respected and sought-after medical practice to The Tilgh - man Square Shopping Center aligns perfectly with our goals of positively impacting the communities where we work. Tilghman Square is a proven one-stop-shop for the surround - ing community and beyond, so we’re thrilled to welcome OAA Orthopaedic Specialists to our tenant roster as they expand their excellence in care to such a convenient location.” MAREJ
Tilghman Square
lives of every patient under its care. “OAA Orthopaedic Special - ists was founded to provide high quality and affordable care to patients in easily ac - cessible locations across the Lehigh Valley” said David Bittner, MBA, CEO of OAA Orthopaedic Specialists. “This
high-quality, comprehensive orthopedic care to individuals of all ages throughout the Le - high Valley. Driven by a physi - cian-led and patient-centered approach that is focused on convenience, cost effectiveness and quality for over 50 years, OAA Orthopaedic Specialists has made a deep impact in the
Anchored by AMC Theatres, Staples and Grocery Outlet Bargain Market, the shop - ping center has tremendous visibility with 32,000 vehicles passing per day and is easily accessible from Rtes. 22, 309 and Interstates 78 and 476. Since 1970, OAA Orthopae - dic Specialists has provided
Alan Cafiero, David Cafiero & Dean Matuszewicz of Marcus & Millichap broker sale of a 10,070 s/f Essex County Shopping Center for $7 Million
Inn & Suites by Marriot in Chincoteague, VA. The hotel sold for $18.1 million. “Located on Chincoteague Island, this beautiful wa - terfront hotel has a fran - chise agreement that runs through December 2032,” said Catherine O’Brien, first vice president investments in Marcus & Millichap’s Encino office. “The offering was well received by the marketplace and changed hands smoothly.” O’Brien represented the seller and procured the buyer. Brian Hosey , first vice president and division manager is Marcus & Millichap’s broker of record in Virginia. Built in 2013 on three acres, the property is easily accessible from Virginia State Route 175/Chincoteague Road. Downtown Chincoteague is a short walk away and Chincote - ague Island National Wild - life Refuge, NASA’s Wallops Flight Facility and the famous Chincoteague ponies are all close by. MAREJ
SHORT HILLS, NJ — Marcus & Millichap, a com - mercial real estate brokerage firm specializing in invest - ment sales, financing, re - search and advisory services, announced the sale of Morris Turnpike Strip Center, a 10,070 s/f retail property lo - cated in Short Hills. The asset sold for $7 million “There was significant de - mand for this asset as it sits in the heart of one of the wealthi - est zip codes in the country,” said Alan Cafiero , senior managing director invest - ments. “There were multiple offers, and the final buyer was completing a 1031 tax-free exchange.” Alan Cafiero, David Cafiero, and Dean Ma- tuszewicz, investment spe - cialists in Marcus & Millic - hap’s New Jersey office, had the exclusive listing to market the property on behalf of the seller, a local limited liability company. The buyer, a New York-based limited liability
Morris Turnpike Strip Center Morris Turnpike and Cleve - land Place. Tenants include T-Mobile, Mattress Firm, and Alpha Fit Club, all of which are on triple net leases. Built in 1959, the retail center sits on a 0.8-acre parcel and has
company, was also procured by Alan Cafiero, David Cafie - ro, and Matuszewicz. Morris Turnpike Strip Cen - ter is located at 688 Morris Turnpike and has great vis - ibility at the T-Intersection of
44 parking spaces. Nearby national retailers include Shoprite, Bed Bath & Beyond, Panera Bread, and AT&T. In other Marcus & Millichap news, the company announced the sale of a 92-room Fairfield
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