6C — February 14 - 27, 2020 — Pennsylvania — M id A tlantic Real Estate Journal
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P ennsylvania
ERSHEY , PA — Marcus &Millichap sold East Chocolate The asset sold for $5.375 million Dunkle of Marcus & Millichap completes sale of a 34,040 s/f office building in Hershey H
the current 895 s/f of vacant space. The property offers an excellent opportunity being that it is a newly renovated class B+ medical office asset, with a very strong anchor tenant, annual rental escala- tions, and potential value-add through leasing. Dunkelman of Soloff Realty & Development rep. Citizens Bank in three new retail leases in Phila. Philadelphia, PA — David Dunkelman of Soloff Realty &Development, Inc. represented Citizens Bank in facilitating three leases in Philadelphia. 1.) Broad St. & Spring Gar- den St. Address: 490 North Broad St., Philadelphia s/f: 3,017 s/f (corner) Landlord: Tower Invest- ments Notes: Citizens Bank re- located its older branch at 12th & Spring Garden to the new project at the corner of Broad & Spring Garden Sts. to capture the foot traffic and expanding North Broad Cor- ridor. 2.) 52nd St. & Market St. Address: 5129 Market St., Philadelphia s/f: 3,000 s/f (free-standing with drive-up ATM) Landlord: Viking 52nd St. Partners, LLC 3.) Frankford Ave. &Knights Rd. Address: 9998 Frankford Ave., Philadelphia s/f: 2,400 s/f (end-cap drive thru) Landlord: 9998 Frankford Ave, LLC Notes: Citizens Bank signed a new lease to relocate a mid- block branch to the hard cor- ner of Frankford Ave. and Knights Rd. Co-Broker: Brian Wherty at Equity Retail Brokers “While digital banking tech- nology continues to evolve and improve, customers still prefer banks that have a physical presence in the communi- ty, especially when it comes to personal money matters and access to state-of-the-art ATMs,” according to David Dunkelman of Soloff Realty & Development, Inc., client rep- resentative of Citizens Bank in the Philadelphia region.
Penn State Health Milton S. Hershey Medical Center, one of Central Pennsylvania’s most successful medical cam- puses. The property is primar- ily leased to Penn State Health Milton S. Hershey Medical Center, and is comprised of a well-rounded mix of other medical and professional office tenants, including East Choco- late Dental, Nestico Druby, PC Law Firm, Keller Williams, and Option Insurance. New ownership to the prop- erty will bring the ability to add-value and increase return on investment through leasing
Plaza, a 34,040 s/f medical office located in Hershey, according to Sean Beuche , regional manager of the firm’s Philadelphia office. The asset sold for $5.375 million. Craig Dunkle , an investment spe- cialist inMarcus &Millichap’s Philadelphia office, had the listing to market the property on behalf of the seller, a lim- ited liability company. East Chocolate Plaza is located at 1135 E Chocolate Ave., only minutes away from
East Chocolate Plaza
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