S hopping C enters Bob Horvath, Todd Tremblay and Mark Brockwell complete sale totaling $2.4 million Horvath & Tremblay sells Wendy’s in Monaca, PA & Dollar Bank in Greensburg, PA for $4.1M M www.marejournal.com M id A tlantic Real Estate Journal — Shopping Centers — November 24 - December 7, 2017 — Section C o n a c a , a n d Greensburg PA — Bob Horvath,

Todd Tremblay , Br ian Ahrens and Mark Brockwell of Horvath & Tremblay have completed the sale of Wendy’s in Monaca, and Dollar Bank in Greensburg for combined sales of $4.1 million. Wendy’s fully occupies a 2,568 s/f retail building located along Golfview Dr., a major retail corridor in Monaca. The property is ideally situated with easy access to heavily traveled Rte. 18 with high traf-

Bob Horvath Todd Tremblay

South Marlton, NJ — Colliers International ’s retail team of Todd Sussman and Josh Goldfine facilitated the sale of EveshamCrossing Shopping Center . The 81,000 s/f shopping center located at 515 Route 73 in South Marlton, NJ is across the street fromThe Promenade at Sagemore was sold to Raymour and Flanigan. The Seller was Starwood Capi- tal and Goodman Properties. Colliers was the sole broker in this transaction. In Carlstadt, Tribeca Oven, Inc. has renewed its leases at two adjacent properties in the Meadowlands, announced Col- liers International NJ LLC Inc. The facilities at 425 and 447 Gotham Parkway house the wholesale artisan bread manu- facturer’s distribution and fic volume in excess of 19,875 vehicles per day. Located di- rectly across the street from the property is the Beaver Valley Mall, a 1.15 million s/f regional mall servicing the re- gional area. Additional tenants located along Rte. 18 include: Walmart Supercenter, Target, Lowe’s, Kohl’s, Marshalls, Ross and PetSmart. Located directly adjacent to the property are Mattress Firm, Advance Auto Parts and Dollar Tree. This Wendy’s location is operated by a 30+ unit franchise operator Brian Ahrens Mark Brockwell

Nov. 24 - Dec. 7, 2017

$1.7 million, a 5.67% cap rate. Dollar Bank in Greensburg closed at a sale price of $2.4 million, a 6.14% cap rate. Bob Horvath, Todd Tremblay and Mark Brockwell represented the seller and procured the buyer to complete the sale. Dollar Bank signed a 20-year ground lease in July 2004 which includes ten year option and annual rental escalations throughout the base term and option period. This Dollar Bank location is located as an out parcel to the Westmoreland Dollar Bank in Greensburg, PA

and has a 40-year operating history at this location. As a commitment to this location Wendy’s underwent an Image Activation in 2014 to upgrade to a sleeker, more contempo- rary image to enhance cus- tomer experience. Wendy’s has over 18 remaining on the base term of the triple net lease with one, 5-year option, one, 4-year option and one, 6-year option. Bob Horvath, Todd Tremblay and Brian Ahrens procured the 1031 exchange buyer to close the property at a sale price of

Mall, a 1,283,597 s/f, two level, enclosed shopping mall. Westmoreland Crossing is located behind the mall and includes the following anchor tenants: Carmike Cinemas, Dicks Sporting Goods, Mi- chaels, & TJ Max. Due to the banks strategic location this branch has exhibited strong branch deposits in excess of $77 million. Dollar Bank has great visibility along Pennsylvania Rte. 30, the primary retail cor- ridor and local Rte. traveling in the southern part of the state. n


“Sprucing up the Northeast region: Latest shopping center redevelopments”

Colliers facilitates sale of EveshamCrossing Shopping Center to Raymour & Flanigan

2C By Richard Birdoff, RD Management

www.marejournal.com ALSO NY Deal Making Schedule .. .. 3A Levin Pre-Holiday Survey shows positive seasonal outlook for retail 4C

Evesham Crossing Shopping Center Son Inc., on a national basis. Institutional investors ad- vised by J.P. Morgan Asset Management own the 115,000 s/f 425 Gotham Parkway, while Prologis 2 , LP owns the 53,000 s/f 447 Gotham Parkway. Paul Rosen , vice president - leasing

bakery operations, respectively. Colliers’ John Donnelly , based in Parsippany, co-bro- kered the long-term, full-build- ing, renewals for Tribeca Oven with JLL’s Jeff Miller , who represents Tribeca Oven’s par- ent company, C.H. Guenther &

officer, and Jason Tenen- baum , senior leasing manager, for Prologis were an integral part of the seamless lease renewal process at 447 Go- tham. Brian Golden from JLL served as landlord representa- tive for both properties. n

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