10-24-14

R EAL E STATE J OURNAL the most comprehensive source for commercial real estate news

ISSUE HIGHLIGHTS Volume 26 Issue 20 Oct. 24 - Nov. 13, 2014

NorthMarq Capital arranges debt financing for the acquisition Joint venture of Advance Realty & The Davis Cos. acquire 675,000 s/f facility

L Executive Women in Business Section C

president and CEO of Advance Realty. “In addition to a central loca- tion in Montgomery County, which boasts one of the state’s most robust economic corridors, 2750MorrisRoad represents an ideal venue for companies that are looking for highly improved industrial space at competitive rents to accommodate their growth,” said Richard Mc- Cready , president of TheDavis Companies. Christopher Bellapianta represented the JVpartnership in the transaction. Bellapianta serves as director of finance and acquisitions forAdvanceRealty. Managing director Greg Nalbandian , of NorthMarq Capital, LLC , arranged debt financing through Wells Fargo for this acquisition. The JV partnership has retained CBRE as the leas- ing agent for the property and will be represented by Paul Touhey , senior vice president, Brian Smyth , vice president and Drew Green , associate. n

ANSDALE PA — A joint-venture partner- ship of Advance Realty and The Davis Companies announced that it has acquired 2750 Morris Rd., a 675,000 s/f high-tech assembly and warehouse facility located in MontgomeryCounty, Lansdale. 2750Morris Rd. is comprised of approximately 570,000 s/f of climate-controlled technol- ogy, assembly, warehouse, and production space and 105,000 s/f of two-story office space. The property boasts significant infrastructure, including dual substationpower feeds, systems for delivery of chilledwater and compressed air, and five diesel generators that are capable of supporting the entire facility and providing the transfer of continuous power without in- terruption. Its temperature andhumidity controlled environment makes the Lansdale facility particu- larly well suited for companies seeking versatile, high-quality warehouse, manufacturing, or

Katz Properties acquires 107,220 s/f Gloucester Town Center

2750 Morris Rd.

3A

assembly space. The property currently has 350,156 s/f of warehouse/manu- facturing space and 70,442 s/f of office space available for lease. “2750 Morris Road offers sig-

nificant in-place infrastructure at belowreplacement cost rents, which affords an environment that is not only unique in this marketplace, but competitively priced,” said PeterCocoziello ,

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Nassimi Realty completes purchase of two new shopping centers in Eastern PA totaling 185,000 s/f

KUTZTOWN/COATES- VILLE, PA — Nassimi Re- alty LLC has completed the purchase of two additional shopping centers in the greater Philadelphia market. The com- pany has acquired Weis Plaza in Kutztown, PA and Airport

Village in Coatesville, PA from Phillips Edison & Company of Cincinnati, OH. Terms of the sale were not disclosed. Weis Plaza is an 115,000 s/f neighborhood center located at 15260 Kutztown Rd. in Kutz- town. It is within walking dis- tance of KutztownUniversity. A 24-hour Weis supermarket and a Dollar General store anchor the center. Built in 1975, Weis Plaza is currently more than 80% occupied. The 70,000 s/f Airport Village center is located at 106 Airport Rd., adjacent to Chester County Airport. ABottomDollar super- market and a Rite Aid store an- chor the center. Other stores in the center include SnapFitness, Burger King and First Niagara Bank. Built in 1993, Airport Village is currently 75% leased. Commenting on the acquisi- tion, Nassimi Realty president, Mike Nassimi said, “We are pleased to acquire two stable

Directory

Weis Plaza

Shopping Centers............................... 3-14A Owners, Developers & Managers..Section B Green Buildings............................... 9-13B

Upcoming Spotlight November 14, 2014 LENDERS DIRECTORY

Airport Village Center

grocery anchored centers in the Greater Philadelphia market. We are continuing to look at ac- quiring properties in the north- east, especially in the greater

New York and Philadelphia corridors.” Nassimi Realty also owns the 600,000 s/f Cedarbrook Plaza power center in Wyncote, PA. n

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