38A — April 2025 — Pennsylvania — M id A tlantic Real Estate Journal
www.marej.com
P ennsylvania
Reder, Dougherty, and Woodard rep. seller & procure buyer Marcus & Millichap arranges $4.62M sale in Bethlehem, PA
High Pointe Commons adds nine stores Levin-managed center sees visitor surge in Harrisburg, PA
ETHLEHEM, PA — Marcus & Millichap announced the sale of a net-leased child care facil- ity tenanted by Lightbridge Academy in Bethlehem. The property sold for $4.62 million. “We are proud to have rep - resented both the buyer and seller in this sale-leaseback transaction, securing a strong investment for all parties,” said Colin Reder , associ- ate. “With a brand-new 15- year triple-net lease in place, the property offers long-term stability and zero landlord responsibilities.” Reder, Derrick Dougherty and Scott Woodard , invest - ment specialists in Marcus & Millichap’s Philadelphia office, had the exclusive listing to market the property on behalf of the seller, a local operator and private investor. The team also procured the buyer, a local private investor. “Located in a high-traffic area with an average house - hold income of $102,000 with - in three miles, this prop- erty offers an ideal blend of stability and growth,” said Woodard, first vice president investments. “With proximity HARRISBURG, PA — The 3,006 s/f former auto repair shop at 2027 Herr St. in Har - risburg has been sold. The new owners plan to complete minor renovations and reopen the space as an auto repair facility, continuing its long- standing use. B Featuring five drive-in doors around the perimeter, the property offers a func- tional layout for automotive services. Conveniently locat - ed just minutes from down- town Harrisburg, it provides WAYNE, PA — CBRE has closed three new office leases totaling nearly 80,000 s/f at the recently renovated class A office property at 1111 Old Eagle School Rd. in Wayne. The long-term leases include a 38,572 s/f headquarters lease for iPipeline; 32,600 s/f to Com - cast Cable Communications Management, LLC d/b/a Com - cast Advertising in a relocation from Chesterbrook; and 8,014 s/f to Elemica, a leading pro - vider of Digital Supply Chain
3001 Linden St.
to educational systems and major employers, it remains a strong investment in a thriv - ing community.” Located at 3001 Linden St., the property sits on a signal- ized corner lot spanning 1.85 acres. Built in 2018, the 10,780 s/f building is positioned in a densely populated area with more than 76,000 residents within a 3-mile radius. In second transaction, Mar - cus & Millichap announced the sale of a net-leased Chipotle property in Moosic, Pennsyl - vania. The property sold for $2.13 million. “This deal underscores the continued demand for high- quality, single-tenant net lease properties,” said Reder,
associate. “With 13 years re - maining on a net lease and a corporate guarantee from Chipotle, this well-positioned asset offers strong financial fundamentals and represents a stable, lucrative addition to our client’s portfolio. We were pleased to guide them through this acquisition.” Reder and Dougherty pro- cured the buyer, a New Jersey- based private investor. Gray - stone Capital Advisors represented the buyer, New Jersey-based institutional developers. Located at 5 Radcliffe Dr., the 2,562 s/f property features a new Chipotlane drive-thru, which typically boosts sales by 10% to 15%. MAREJ
High Pointe Commons as well.
HARRISBURG, PA — Men’s apparel store DXL Big + Tall, cookie shop Crumbl and telecommunications ser- vices provider AT&T are now open at High Pointe Commons in Harrisburg. These latest launches – all within the past month – reflect an ongoing ten - ant mix transformation that has brought nine new brands to the 359,000 s/f regional shopping center over the past two years. “This leasing surge has solidified High Pointe Com - mons’ position as a premier shopping destination with a deep bench of specialty retailers, dining options and service providers,” said Fred Younkin , leasing representative with Levin Management Corpora- tion (LMC). “The influx of exciting new additions has brought fresh energy and strengthened the center as a one-stop, go-to choice for the Harrisburg community.” High Pointe Commons also recently welcomed discount retailer Five Below, running shoe store Fleet Feet and specialty hobby store War - hammer. Optical retailer Len - sCrafters, beauty franchise Sugaring NYC Organic Wax - ing & Lash Studio, and a FedEx Office print and ship center joined the tenant mix
LMC serves as leasing and managing agent for High Pointe Commons. “Our steady transactional activity has en - hanced what already was an enviable tenant lineup,” said Younkin, who represented High Point Commons owner - ship in the recent flurry of lease transactions. “The results are measurable and reflect the center’s strong market appeal.” High Pointe Commons draws 3.4 million visitors per year, according to real-time traffic data from Placer.ai. The center experienced a 3.9% year-over-year increase in foot traffic in 2024. Shadow-anchored by Target and JCPenney, High Pointe Commons is strategically lo - cated off Interstate 283 at Exit 2, with direct connectiv - ity to Route 322. The property also features Petco, Famous Footwear, Orangetheory Fit - ness, Verizon Wireless and Sally Beauty Supply, among others. The property’s robust dining mix includes Chili’s, Friendly’s, Panera Bread, Moe’s Southwest Grill and Five Guys, to name a few. The property serves a resi - dential population of more than 163,500 people within a five-mile radius and a daytime population of 132,000 within those same five miles. MAREJ
NAI CIR sells former Herr Street Auto Repair Shop
3001 Linden St.
easy access to surrounding areas, including Penbrook, Progress, and Colonial Park.
Amber Corbo of NAI CIR represented the seller in this transaction. MAREJ
CBRE arranges three new leases totaling nearly 80,000 s/f at 1111 Old Eagle School Road in Wayne, Pennsylvania
Campbell Commercial Partners facilitates sale of antique marketplace
Management solutions and the premier multi-enterprise network for global process manufacturing industries. Scott Gabrielsen of CBRE leads the marketing and leasing team at the property on behalf of the owner, De Lage Landen Financial Services, Inc. (DLL). “This was a four-year pro - cess to right size DLL’s oc - cupancy to 85,000 s/f on the third floor and convert the remainder of the 200,000 s/f building into a multi-tenant
configuration with the goal of attracting large full floor ten - ants,” said Gabrielsen. “DLL is a top-tier client and as an owner/user knows the recipe to attract and retain employ- ees. The recent renovations and amenities enhancements is what attracted iPipeline, Comcast and Elemica to the property, which checks all the boxes for the flight-to quality trend and delivers a workplace that employees want to come to.” MAREJ
MILLERSTOWN, PA — 41- 43 N Market St. in Millerstown has been purchased by Michael & Angela Hoover. The antique and gift mall, Stitch in Time, along with the adjacent home was included in the sale. Stitch in Time will be a new addition to their antique marketplace portfolio, Michael and Angela Hoover also own shops on Mar - ket in Elizabethville. MAREJ
41-43 N Market St.
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