S hopping C enters

Real Estate Journal — Shopping Centers — Section C


M id A tlantic

Nathanson, Gorman, Fedorko & Matthews represent seller of 298,630 s/f power center CBRE brokers $41.12 million sale of Township Marketplace in Monaca, PA M ONACA , PA — CBRE, Inc . has brokered the sale of

Township Marketplace in Mo- naca, PA to American Realty Capital , which was advised by Lincoln Retail REIT Servic- es , for $41.12 Million. CBRE’s Brad Nathanson , Tom Gor- man , Paul Fedorko , and An- toine Matthews represented the seller. “Township Marketplace is the preeminent shopping center in the area, boasting a strong lineup of national tenants that HI-LIGHTS MID ATLANTIC ICSC CONFERENCE & DEAL MAKING ISSUE “One size doesn’t fit all: Evaluating alternate forms of environmental due diligence” By David Coyne, Liberty Environmental JAN. 30 - FEB. 12, 2015

Township Marketplace

all perform well at this loca- tion,” said Nathanson, execu- tive vice president with CBRE Greater Philadelphia. “We had

national interest in the property given the regional nature of the center and the proposed $4 bil- lion cracker plant.”

Township Marketplace is a 298,630 s/f power center anchored by Lowe’s, and also includes such national ten-

ants as Cinemark, Party City, Michaels, PetSmart, and Five Below. The property was built in 1999. n

Patterson-Woods/CORFAC Int’l facilitates $950,000 sale of a restaurant building in DE

WILMINGTON, DE — Patterson-Woods Com- mercial Properties/COR- FAC Internat ional , a full-service commercial real estate provider serving the Mid-Atlantic market, an- nounced the completion of the sale of a restaurant building located at 805 North Union St. in Wilmington. The 4,575 s/f one-story building fronts Union St. in the heart of Wilmington's "Little Italy." The property was sold by T & M Properties & Union City Grill, LLC, a restaurant headed by Chef Matthew Curtis, to Bread & Butter, LLC, also known as Ash- by Management Group for $950,000. Joseph Latina , principal, and Mary Ann Heesters of Patterson-Woods represented both the seller and procured the purchaser. Latina special- izes in retail and investment commercial real estate with


Petrie Richardson Ventures redevelops 350,000 s/f mall

805 North Union St.

a strong emphasis in the food and beverage sector. Heesters has a background in food and beverage, and specializes in issuing and transferring liquor licenses in real estate transactions. Ashby Management plans to renovate the build- ing and open a full-service,

casual dining restaurant serving modern American cuisine with a Tai/Asian flare. The group has also opened and operates several other restaurants locally with great success, including three McG- lynn's Pubs (Pike Creek, Bear & Dover), The Deerpark Tav- ern (Newark), and Cantwell's

Tavern (Odessa). "It was extremely gratifying to execute this transaction on behalf of two of our very valued clients," said Latina. "We wish Chef Matt Curtis the best of luck in his future endeavors and look forward to yet another successful Ashby Management restaurant." n


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