36 — September 2024 — Pennsylvania — M id A tlantic Real Estate Journal
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P ennsylvania
Landmark Commercial Realty’s Mangam inks Harrisburg deal
Cushman & Wakefield team completes sale Endurance RE Grp. announces Generals Portfolio acquisition W EST NORRITON, PA — Affiliates of Endurance Real
HARRISBURG, PA — The former home of The Fire - house Restaurant, a beloved
mark Commercial Realty, the broker for the deal, ex - pressed her enthusiasm for the transaction: “Landmark Commercial Realty is proud to have been a part of this sig - nificant acquisition. Bringing new business to Harrisburg is always a priority for us, and we are excited to see how Men in the Kitchen will contribute to the city’s dynamic culi - nary landscape. The former Firehouse location has been a cornerstone of Harrisburg for years, and we believe its legacy will continue to thrive under the new ownership.” “Men in the Kitchen” is set to open in the Fall of 2024. In addition to its regular dining services, the restaurant will offer catering and be available for private events, making it a versatile venue for both casual dining and special occasions. As the renovation process begins, the team at Men in The Kitchen is committed to main - taining transparency with the Harrisburg community. More updates and details about the grand opening will be shared in the coming months. MAREJ
Harrisburg landmark, has been acquired by “Men in The Kitchen,” a highly ac - claimed cu - linary es - tablishment
Estate Group, LLC (En - durance) and Greystar- Thackeray (Thackeray) announced the acquisition of a 200,359 s/f multi-tenant light industrial portfolio consist - ing of six buildings in West Norriton. This marks the 12th joint venture between Endurance and Thackeray since 2006. The Cushman & Wakefield team, led by Gerry Blinebury, Jonas Skovdal, and Brendan McGeary , represented the seller in the transaction and John Alas- cio, Aaron Graves, and TJ Sullivan , also from Cushman & Wakefield assisted in secur - ing the acquisition financing for the buyer. “We are excited about this acquisition, which expands our light industrial footprint in the coveted suburban Philadelphia submarket of King of Prus - sia,” said Benjamin Cohen, President of Endurance. “The infill nature of the portfolio in a submarket where we have first-hand experience with similar type assets, make it a compelling opportunity to acquire with one our longest standing partners Thackeray. The property is fully leased to fifteen tenants ranging from large multi-national corpo - rations to regional service- oriented companies. Current rents are meaningfully below market, offering substantial value-add potential through near-term lease rollover. Jonas Skovdal and Chris Butera , both from Cushman YORK, PA — TRUE Com- mercial Real Estate an- nounced a series of notable real estate transactions across the region, showcasing a strong demand for commercial and retail spaces. In the latest developments, TRUE Commercial Real Estate has facilitated several high- profile leases and sales: La Criollita Habanera has secured 900 s/f of prime café/res - taurant space at 15 N. Penn St., York. Ben Chiaro, CCIM and David Albright represented both the landlord and tenant in this transaction. A modern, loft-style office condo spanning 4,000 s/f at 232
Bo Mangam
from York. This new business marks the beginning of a fresh chapter for the historic location at 606 N 2nd Street, Harrisburg, PA, which has long been a staple of the local dining scene. The new owners have ambi - tious plans for the space, in - cluding extensive renovations that will transform the build - ing into a unique dining des - tination while preserving its historic charm. The location will soon open as “Men in the Kitchen,” offering a completely new dining experience with a focus on exceptional cuisine and innovative offerings. Bo Mangam , director of sales and leasing at Land -
2562 Blvd. of the Generals
includes properties located at 2495, 2562, and 2564 Blvd. of the Generals, as well as 603 General Washington Ave. These properties feature clear heights ranging from 18 to 20 feet, 530 parking spaces, and 46 loading positions, offering supe - rior parking and loading ratios compared to most comparable properties. The prime location offers easy access to major high - ways, including Interstates 277, 76, and 476, as well as US Rtes. 422 and 202, positioning the properties within a one-day truck drive of six of the top 10 US MSAs and 60% of the Canadian population. Endurance Real Estate Group, LLC, formed in 2002, is a Radnor, Pennsylvania-based real estate owner/developer focused on income and value add industrial opportunities located in the Mid-Atlantic region. Since its formation, the company has acquired $1.4 billion of assets totaling 21 million s/f. MAREJ York. Kauffman facilitated this transaction. The Pennsylvania DMV Cen - ter is expanding into an addi - tional 1,600 s/f at Stonehedge Square SC, 950 Walnut Bottom Rd., Carlisle. Steve Clipman , Benjamin, Kauffman, and Chia - ro were involved in representing the landlord. Apricity Products LLC has leased 323 s/f of retail space at REVI Flats, 15 S. Beaver St., York. Chiaro represented all parties in this transaction. NewYork Barber Shop has taken on 1,530 s/f at 1836 W. Market St., York. Chiaro and Albright were involved in this lease. MAREJ
& Wakefield have been ap - pointed as the exclusive leas - ing agents for the portfolio, including an upcoming 19,800 s/f availability at 2562 Blvd. of the Generals. Jared Newman , senior vice president and partner at Endurance, added, “This acquisition continues our long- held strategy of targeting well- located, highly functional light industrial properties with high barriers to entry with limited competitive supply.” “Partnering with Endurance on this acquisition exemplifies our shared commitment to strategically positioning our - selves in properties with strong potential for value creation,” said Joe Chu , senior manag - ing director at Greystar . “The West Norriton portfolio aligns perfectly with our strategy, and we look forward to leverag - ing our collective expertise to maximize its performance in this dynamic market.” The six-building portfolio N. George St., York has been successfully sold. Chiaro, man - aged the transaction, represent - ing all parties involved. Mighty Fine Print has leased 106 s/f of professional office space in the Coho Building at 53 N. Duke St., Lancaster. Marisa Benjamin handled the repre - sentation for all parties. Uptimised Global, LLC has taken up 7,100± s/f of refrig - erated warehouse and office space at 235 Turtle Hill Rd., Ephrata. Gordon Kauffman and Albright represented both the landlord and tenant. Andall Ventures has leased 960 s/f of open warehouse space at 3435 Board Rd.,
Colliers brokers sale of 9,512 s/f, six-tenant, class A center
Shepherd’s Corner
ALLENTOWN, PA — Col- liers recently completed sale of Shepherd’s Corner at 5585 Hamilton Blvd., Trexlertown, in Lower Macungie Township, Lehigh County. The team of Derek Zerfass , senior vice president of retail brokerage and Jeff Algatt , senior vice president of capital markets, led Colliers’ efforts as the owner’s sale agent. The buyer in this $5,400,000 transaction is a high-net-worth individual represented by Robbie Ste- phens of ERA Rudy Amelio . The 9,512 s/f, six-tenant, class A center is 100% leased to a solid roster of franchise tenants on net leases with base rent escalations and terms that do not expire until 2032. Neighbors in this bustling commercial corridor include Whole Foods, Costco, Target,
Dick’s Sporting Goods, Nor - dstrom Rack, DSW, Giant, Home Depot, Burlington, Air Products HQ, Members 1st HQ, PetSmart, Marshalls, HomeGoods, Top Golf and Raising Cane’s. Lower Macungie Township is ranked as one of the state’s top municipalities, with boom - ing residential, commercial, and industrial logistics sec - tors. Trade area demographics are powerful with over 3,000 new residential units on the way close to the site. Just minutes from I-78, I-476, PA-309 and US-222, Shepherd’s Corner is well maintained, has excellent curb appeal and visibility with extensive frontage on busy Hamilton Blvd., and additional access at the signaled intersec - tion at Krocks Court. MAREJ
TRUE Commercial Real Estate completes transactions in York, Lancaster, and Carlisle
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