18B — August 31 - September 13, 2012 — Shopping Centers — Mid Atlantic Real Estate Journal




ANASSAS, VA — Katz Properties of New York has ac- Kent & Lawrence of CBRE reps Katz & seller Katz Properties adds 270k s/f for $50 million to Metro DC Portfolio M

EnvironmentalÿRisks Disclosures Compliance DueÿDiligence Permitting W E C ANÿ P UT THEÿ P IECESÿ T OGETHER

quired the Festival Shop- ping Center in Manassas, VA for $15,750,000 and the East River Park Shopping Center in Washington DC for $33,655,000, in separate transactions. The East River Park shop- ping center, located at the intersection of Minnesota Ave and Benning Road, is currently over 97% occupied and anchored by a 40,000 s/f Safeway supermarket. Other notable tenants comprising the center’s 150,000 total s/f

Festival Shopping Center

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East River Park Shopping Center

are CVS, Citibank, and Ray’s The Steaks. The Festival Shopping Cen- ter, which is 100% occupied, is anchored by a 50,000 s/f Global Food supermarket. The center totals 117,000 s/f and is situ- ated on 13.5 acres directly on Sudley Road at the intersection with Portsmouth Road. Daniel Katz, a principal of Katz Properties said, “We are thrilled to expand our Metro DC portfolio to include these two stable assets. Earlier this year we committed ourselves to this region and we’ve proven that commitment with these transactions. The Festival Shopping center is an excel- lent complement to our other recent Manassas acquisition, Westgate Shopping Center.” Daniel Kaufthal, a principal of Katz Properties, said they are “pleased to continue expand- ing Katz Properties’ presence in the Northeast’s urban cores with the purchase of East River Park. The redevelopment hap- pening on this side of the Ana- costia River is revitalizing the neighborhood, and we are con- fident that our shopping center will continue to provide quality retail services for the existing and growing community.” Mortgage financing for East River Park was provided by PPM Finance Inc. on behalf of Jackson National Life Insur- ance Company of Lansing, Michigan, and was arranged by Tim Breda of Goedecke & Co. The purchase of Festival Shopping Center was a cash transaction. The CBRE team of R. William Kent and Gary S. Lawrence represented both Katz Properties and the seller in each transaction. Leasing and property management ser- vices will be provided by Win- slow PropertyManagement, an affiliate of Katz Properties. ■

· Pad Sites Available for Purchase & In-Line Space for Lease · Over 26,000 SF of Retail Space Available, divisible to 880 SF · Over 11,000 SF of Office Space Available · 1/2 Mile west of Route 33 · Signalized Entrance with 18,000 vehicles per day · Over 46,000 population within 3 mile radius · For sale/Lease Rates : Contact Greg Schiavone, Broker Contact information: gschiavone@alt-realty.net - 610. 428.3484 William Penn Commons - New Retail/Office Space

7065 William Penn Highway , Easton, PA 18045

Main Street Commons

· Retail and Office Suites Available · 60,127 SF, 3 story, building located in the Heart of Downtown Bethlehem · This one hundred seventy-six year old building was formerly home to Orr’s Department Store · Now home to the Valley’s favorite specialty retailers and restaurants · Easy Access to Routes 378, 22, and 33

· For Lease Rates: Contact Jennifer Gold, Associate Contact Information: jgold@alt-realty.net - 610.570.0095

559 Main Street, Bethlehem, PA 18017

The Farrs Building

· Adaptive re-use of a 5-story, 30,000 SF Beaux Arts style building · 5,429 SF of street level retail available on first floor · Twenty four loft apartment units on upper floors · 1920s neoclassic building, located at the Northwest corner of Broad and New Street, in Bethlehem

· For Lease Rates: Contact Jennifer Gold, Associate Contact Information: jgold@alt-realty.net - 610.570.0095

2 West Broad Street, Bethlehem, PA 18018

610.332.9900 Residential Commercial Retail Relationships Versatility www.alt-realty.net

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