R EAL E STATE J OURNAL the most comprehensive source for commercial real estate news
Robert Tillsley, John D’Amato and David Yao represent SITEX GROUP McBride RE Corp./CORFAC Int’l. reps. buyer of $38 million Sharp Electronics
ISSUE HIGHLIGHTS Volume 27 Issue 4 Feb. 27 - March 12, 2015
M
AHWAH, NJ — McBride Corpo- rate Real Estate/
SPOTLIGHT COMMERCIAL OFFICE PROPERTIES Featuring. . .
C O R F A C I n t e r n a - tional pres- ident Rob- er t Ti l l s - ley, SIOR , announced that he and two of hi s M c B r i d e
Robert Tillsley
colleagues, John D’Amato and David Yao , have rep- resented SITEX GROUP in the acquisition of a 56- acre, 510,000 s/f campus that is comprised of one office building and one industrial building. The property is located at 1 Sharp Plaza in Mahwah .
1 Sharp Plaza in Mahwah, NJ Sharp Electronics. McBride represented Sharp Electron- ics in the lease to Amazing Savings. The McBride team has been retained to market 120,000 s/f of improved office and warehouse space that is avail-
The seller, Sharp Electron- ics, had occupied the entire property at one time and has leased back 182,000 s/f of fa- cilities. Amazing Savings is a tenant at the property and occupies 208,000 s/f that it had previously leased directly from
able immediately for lease. In addition, the real estate firm is also marketing 23 acres of land for the new owner that can be sold, leased to a build- to-suit occupier or structured as a ground lease to another entity. n
Section C
RETAIL DEALS OF 2014
12-16A
Foster, Wold & Wilson of Avison Young co-broker transaction with Chad Zande CenterPoint Properties sells 10-building portfolio in the Greater Milwaukee market
For speaking and sponsorship information, please contact: Linda Christman at 781-871-3456 or lchristman@marejournal.com UPCOMING CONFERENCES 2015 SCHEDULE: APRIL 2, 2015 NJ LAND DEV. SUMMIT MAY 7, 2015 NJ OFFICE SUMMIT JUNE 25, 2015 NJ COMMERCIAL RE FORECAST SUMMIT
OAK BROOK, IL — Cen- terPoint Properties an- nounced the disposition of a 10-building portfolio in the Greater Milwaukee market. The portfolio consists of 1.74 Million s/f and 116 acres of land. Erik Foster, MikeWil- son and Christy Wold with Avison Young co-brokered with Chad Vande Zande , both representing Center- Point in the transaction. “CenterPoint is heavily focused on growing and re-
Directory
Owners, Developers & Managers ..... Section B Green Buildings ................................ 7-17B Shopping Centers . ........................... 7-18A
multi-modal advantage.” Building addresses include: 1. W142 N9251 Fountain Blvd., Menomonee Falls, WI 2. 5401 W. Donges Bay Rd., Mequon, WI 3. 7025 W. Parkland Ct., Milwaukee, WI 4. 7501 N. 81st St., Milwau- kee, WI 5. 11925 W. Carmen Ave., CenterPoint Milwaukee headquarters
allocating into logistically advantaged markets such as Seattle, Los Angeles, Hous- ton, and Northern New Jer- sey,” said Laura Petrucci , vice president, investments of CenterPoint. “The 10-build- ing portfolio sale is aligned with the advancement of Cen- terPoint’s strategy to invest in those assets possessing a
Milwaukee, WI 6. 2450 S. 170th St., New Berlin, WI 7. 16405 W. Lincoln Ave., New Berlin, WI 8. 16800 W. Ryerson Rd., New Berlin, WI 9. 2900 S. 160th, St., New Berlin, WI 10. 6736 W. Washington Dr., West Allis, WI. n
Upcoming Spotlight March 13, 2015 1031 EXCHANGE
www.marejournal.com
Inside Cover A — February 27 - March 12, 2015 — M id A tlantic
Real Estate Journal
www.marejournal.com
The Best of 2014 Issue: March 27th, 2015 Deadline: March 13th, 2015
Highlighting the largest developments, major financial transactions, largest office, retail & industrial transactions, in addition to the most unusual architectural and construction projects. We will also feature the owners, brokers, developers, architects who made it all happen! Be a Part of the Best of the Best! To be sure your company, properties and top brokers are considered, Please call or email for a nomination form today! Advertising is available; preferences will be given to the winners.
Contact Linda Christman or your account executive LChristman@marejournal.com
Real Estate Journal — February 27 - March 12, 2015 — 1A
www.marejournal.com
M id A tlantic
8:00 am Development Forecasts for the next 10 years • forecasting the next 10 years of metro development: Modeling for site selection and development planning. •A fast paced overview of the key tools that you will need as you prepare for your next development •A Developers Tool Kit for 2015 •Development Opportunities that will change the face of New Jersey 8:50 AM Residential Builder and Developer Update • Evaluating land prices: Where they were, Where they are at andWhere are they going • What is the market for raw land and what does the deal need to look like today • What are the builders buying and why • How are land deals structured today and how is it different from the boom • What future opportunities exist 9:40 AM Break 9:50 AM How to EffectivelyWorkWith Municipalities • Annexation of parcels into cities • How cities our effectively working with builders to fast track the approval process • How are municipalities effectively working with home builders and commercial developers to spur growth • What are cities doing to attract investment in their communities 10:40 AMMarket Update • Inventory status • Current and future absorption • Land values: Where are they now and where are they headed • How does New Jersey’s Economic Growth+ stack up to the rest of the United States • Interest rates and other economic conditions affecting consumer confidence 11:10 AMWhat are the Opportunities for Commercial Development • What new opportunities for development are happening right now • What types of projects are in consideration for land development? • What needs to happen to get the market moving? Or do we have to wait until after the election • What are the challenges with land development vs. redevelopment? • Who is active in the market place and what is their risk tolerance and expected returns 12:00 PM Adjourn & Networking
For speaking and sponsorship information please contact Linda Christman at Lchristman@marejournal.com or 781-871-3456
2A — February 27 - March 12, 2015 — M id A tlantic
Real Estate Journal
www.marejournal.com
MAREJ A dvertisers D irectory To advertise, call 1-800-584-1062 Advanced Solar Products................................10B American Architectural....................................1B Arrow Steel Inc.. .............................................14B Bennett Williams............................................10A Berger Organization.........................................5C Berger-Epstein Associates, Inc.........................4C Bergman Real Estate Group. ...........................1C Berkadia............................................................3A Bohler Engineering.........................................10A Capitol Aerials. .................................................8B Cardinale Enterprises. ...................................17C CBRE...............................................................13A CenterPoint Properties................................. IC-C Colliers International. ....................................21A Crystal Window & Door Systems, LTD...........3B Earth Engineering..........................................17A Eastern Union Funding..................................13A Elias B. Cohen & Associates.............................4B Elliott-Lewis......................................................9B Fowler..............................................................20B Harvey Hanna & Associates, Inc.. ...................2C Heller Industrial Parks. ...................................6C Hutchinson Mechanical..................................12B Integrated Business Systems...........................6B IREM. ........................................................ 18-19B Jeffrey Realty..................................................21A Jewel Electric Supply Co..................................8B Kaplin | Stewart...............................................3C Keast & Hood....................................................5A M&T Realty Capital Corporation.....................6A M. Miller & Son.................................................2B Marcus & Millichap . ............... 12A, 23A & BC-A Max Spann. .....................................................19A Metro Commercial. .........................................12A NAI Emory Hill...............................................13C NAI James E. Hanson. ...................................12C NAI Keystone Commercial & Industrial........ 8D NAI KLNB................................................. 10-11C NAI Mertz........................................................14C NAI Summit.......................................... 12A&23A NAI Summit..................................................... 9D NorthMarq Capital...........................................5A Orndee Omnimedia.........................................16B P. Cooper Roofing, Inc.................................. BC-B Poskanzer Skott Architects..............................5B Premier Compaction Systems........................15B Property Owners Association.....................IBC-A RD Management........................................... 8-9A Specialty Building Systems.......................... IC-B Subway............................................................11A The Frederick Group.......................................15C The Goldstein Group.......................................11A Tranzon Auction................................................4A USGBC. ...........................................................17B WegoWise. .......................................................13B Weiss Realty....................................................21A Whitesell....................................................... BC-C
M id A tlantic Real Estate Journal
M id A tlantic R eal E state J ournal Publisher .................................................................Linda Christman Publisher ....................................................................Joe Christman Section Publisher .........................................................Steve Kelley Senior Editor/Graphic Artist ..................................... Karen Vachon Production Assistant ........................................................ Julie King Associate Publisher ................................................. Alissa Aronson Associate Publisher .............................................. Barbara Holyoke Office Manager .........................................................Joanne Gavaza Guest Columnist ................................... Jerry Nelson, Stark & Stark Mid Atlantic R eal E state J ournal ~ Published Semi-Monthly Periodicals postage paid at Rockland, Massachusetts and additional mailing offices Postmaster send address change to: Mid Atlantic Real Estate Journal, 312 Market St. Rockand, MA 02370 USPS #22-358 | Vol. 27 Issue 4 Subscription rates: $99 - one year, $198 - two years, $4 - single copy REPORT AN ERROR IMMEDIATELY MARE Journal will not be responsible for more than one incorrect insertion Toll-Free: (800) 584-1062 | MA: (781) 871-5298 | Fax: (781) 871-5299 www.marejournal.com
Do You Have The Property Management Agreement You Need? Jerry A. Nelson
M
any property owners and managers are now enjoying the
benefits of having the right management agreements to meet their needs with all types of properties, from commercial and retail properties, to indus- trial and multi-family proper- ties. Having the right property management agreements can help you to quickly make and save money. However, one size does not fit all, as it’s imperative that your manage- ment agreement be tailored and comply with appropriate laws in your particular state. And as property values rise, those with the right property management agreements can enjoy big benefits and prevent large losses. Property Management Agreements Can Create Opportunities. Well drafted property management agree- ments can help owners and managers to benefit from in- creased compensation. For
The views expressed by contributing columnists are not necessarily representative of the Mid Atlantic Real Estate Journal
example, they can help prop- erty owners to timely receive all rents and other income from properties. Ensuring that the agreement appropriately defines and addresses rent and costs in the state you are operating in is key. Property owners can also benefit from better contracts and leases to maximize rents and property values. Property Managers can benefit as well by receiving exclusive rights to manage and lease properties and by col- lecting expected management fees and leasing commissions.
However, some states have certain requirements for com- missions. A thorough review by counsel can make sure you are in compliance. Property Management Agreements Can Cut Costs. Having the right property management agreements can also help property owners and managers to save money. For example, property owners can save money by negotiating protections in agreements to ensure that managers do not receive compensation in excess continued on page 6A
Central PA | March 13 Deadline: February 27 Best of 2014 | March 27 featuring Top Brokers of the Year! Deadline: March 13 Eastern PA | April 10 Deadline: March 27 (call or email now for entry form) Don’t be left out. Call Alissa TODAY! UPCOMING PENNSYLVANIA SPOTLIGHTS
Mid Atlantic R EAL E STATE J OURNAL Phone: 781-871-5298 x 211 • Fax: 781-871-5299 aaronson@marejournal.com • www.marejournal.com
Real Estate Journal — February 27 - March 12, 2015 — 3A
www.marejournal.com
M id A tlantic
M id A tlantic R eal E state J ournal
“THE ONLY CERTAINTY IS UNCERTAINTY ITSELF.”
With apologies to Pliny the Elder—who uttered the words above in 67 A.D.—certainty can be a certainty. Our relationships with capital sources, coupled with our unparalleled experience in investment sales, mortgage banking and loan servicing, help us remove doubt from the equation. Perhaps it’s because the real estate market in ancient Rome didn’t amount to much, but we think our sages are way better than their sages.
B E RKAD I A . COM / 8 00 . 4 4 6 . 2 2 2 6
a Berkshire Hathaway and Leucadia National company
Commercial mortgage loan banking and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. In California, Berkadia Commercial Mortgage LLC conducts business under CA Finance Lender & Broker Lic. #988-0701, Berkadia Commercial Mortgage Inc. under CA Real Estate Broker Lic. #01874116, and Berkadia Real Estate Advisors Inc. under CA Real Estate Broker Lic. #01931050. For state licensing details for the above entities, visit: www.berkadia.com/licensing.
4A — February 27 - March 12, 2015 — M id A tlantic
Real Estate Journal
www.marejournal.com
M id A tlantic R eal E state J ournal 10 transactions in northern New Jersey Kislak’s Sweetwood inks $18.3m in year-end sales
Have a great story but don’t have the time to put the words down on paper? We’ve got you covered!
commercial rea l es tate firm in the tri-state re- gion, recently a nn o un c e d t h a t J o n i Sweetwood , a senior vice president, led W
The separate transactions include: •A portfolio of buildings with 23 apartments and one store in Elizabeth for $4.0375 million. Sweetwood represented both parties. •A 36-unit apartment build- ing in Elizabeth for $3 million. Sweetwood represented the seller and vice president Jona- than Greenberg represented the purchaser. •A one-half acre parcel of land for redevelopment in South Orange for $2.2 million. Sales associate Julie Gralla repre- sented the seller and Sweetwood
represented the purchaser. •A 24-unit apartment build- ing in East Orange for $1.85 million. Sweetwood represented both parties. •A 21-unit apartment build- ing in Plainfield for $1.75 mil- lion; Sweetwood and Gralla represented the seller and vice president Jeff Squires repre- sented the purchaser. •An 18-unit apartment build- ing in Elizabeth for $1.4million. Sweetwood represented the sell- er and Greenberg represented the purchaser. •A 25-unit apartment build- ing in East Orange for $1.235 million. Sweetwood represented both parties. •A 30-unit apartment build- ing in Irvington for $1.1 million. Sweetwood represented both parties. •A 30-unit apartment build- ing in East Orange for $950,000. Sweetwood represented both parties. •A 12-unit apartment build- ing in Irvington for $768,000. Sweetwood represented both parties. “The demand for multifamily properties throughout New Jer- sey remains very strong,” said Robert Holland , president. “Joni does an extraordinary job getting buildings for sale and procuring the right buyers.” “The Essex and Union Coun- ty submarkets remain very strong,” said Sweetwood. “We are working with both longtime clients familiar with the mar- kets and new clients eager to establish themselves. Inventory for quality properties remains low.” Joni Sweetwood joined Kislak in 1996 and has been an inte- gral part of the team ever since. As both a senior vice president and sales associate, Sweetwood is a leading producer, man- ages client relationships and transactions, and serves as a manager and mentor to sales trainees. She specializes in the sale of multifamily and other in- vestment properties throughout northern New Jersey. Since joining Kislak, Sweet- wood has won numerous sales awards, including the Sima Kislak Jelin Salesperson of the Year award in 2010 and the company’s top production award 2011, 2012 and 2013. She has also been recognized as one of NewJersey’s Commercial Broker All Stars, as well as the Mid Atlantic Real Estate Journal’s Executive Women in Business. n
O O D B R I D G E , NJ — The Kislak Company, Inc. , a
Joni Sweetwood
Contact Alissa Aronson, PR Writer/Publisher, MAREJ Email: aaronson@marejournal.com Phone: 781.871.5298 x211
the completion of ten sales in Essex and Union Counties in northern New Jersey totaling $18,290,500 in the latter half of 2014.
Chambersburg Area of Trenton, NJ Commercial, Residential & Multi-Family Properties
Multi-Family Properties - 474 & 476 Hamilton Ave. Commercial/Residential Prop. - 478 Hamilton Ave. Single Family Homes - 209 Hamilton Ave., 341 Morris Ave., 822 Anderson St., 21 & 23 N. Anderson St., 739 Second St., 919 Smith St. & 928 Beatty St.
Held at Courtroom of Honorable Novalyn L. Winfield, U.S. Bankruptcy Court for District of New Jersey, 50 Walnut Street, 3rd Floor, Newark, NJ 07102. PREVIEWS: Please call for details. Auctions: March 25 | 2pm
LOW MINIMUM BIDS! CHECK WEBSITE FOR DETAILS.
Single Family Home | Great Rental Property 1,305± sf Home | 0.23± Acre | Attached 1-Car Garage | Located Off Route 15 in Morris County
Auction: March 25 | 11am | On-Site Property Location: 645 Berkshire Valley Rd, Wharton, NJ
Previews: March 11 & 18 | 12pm – 1pm
Tranzon Auction Properties | John Dobos | NJ RE License #0674597 10% Buyer’s Premium | Sales subject to Terms & Conditions. Brokers welcome.
908-642-7984
TRANZON.COM
The Mid Atlantic Real Estate Journal, 1/4 pg, Feb. 27
Real Estate Journal — February 27 - March 12, 2015 — 5A
www.marejournal.com
M id A tlantic
M id A tlantic R eal E state J ournal Two recent trades involving a total of 168 units Gebroe-Hammer inks $36m sale of a two building complex R AHWAY, NJ — The newly revitalized City of Rahway, NJ, con-
Our Capital Connections Deliver the Right Results
ANOTHER SUCCESSFUL TRANSACTION $21,000,000 University Plaza SIZE: 240,000 SF CITY: WILMINGTON, DE LENDER: CMBS
tinues its multi-family invest- ment renaissance with two recent trades involving a total of 168 luxury and duplex-style apartment-rental units. The brokerage professionals at Gebroe-Hammer Associ- ates represented both sellers and buyers in the sales of River Place at Rahway and Alden Apartments. The team of managing di- rector Joseph Brecher and sales representative Gehane Triarsi represented the own- er, while president Ken Ura- nowitz procured the buyer in the $36 million sale of River Place, a two-building complex located at 190 Lewis St., on the Rahway River. Built in 2005, the commu- nity’s 60 one-bedroom and 76 two-bedroom units include ce- ramic tile kitchens and baths; nine-foot ceiling heights; full- sized washers and dryers; fully equipped kitchens; and private balconies. An on-site fitness center, media room, outdoor courtyard, parking and attached garages are among the amenities. Brecher last sold the luxury apartment
35 Offices Coast-to-Coast
New Jersey | Philadelphia | Baltimore | Richmond | Washington DC
River Place at Rahway
community in 2011 in one of central New Jersey’s largest multi-family transactions that year. “The buyer recognized sig- nificant upside potential as the city’s downtown district continues to mature and tran- sition to one of the state’s pre- mier cultural and entertain- ment hubs,” said Uranowitz. “Almost 75 percent of the units have been renovated during the past three years and the new owner plans to re-
hab the remaining units upon turnover in order to render them more competitive.” Nearby, the sale of the 32- unit Alden Apartments was arranged for an undisclosed price by the Gebroe-Hammer brokerage team of executive vice presidents Greg Pine and David Jarvis and Tri- arsi. Gebroe-Hammer rep- resented the seller, Alden Apartments Company, LLC, and procured the buyer, a private investor. n
STRUCTURAL ENGINEERS
www.keasthood.com Philadelphia | Washington
Serving building owners, developers, real estate professionals, and architects since 1953.
We turn your ideas into reality.
Renovations & Additions
New Construction
Condition Assessments
Due Diligence
Poskanzer Skott Architects has been helping commercial real estate owners and brokers close the deal for more than four decades. Whether it’s a workspace, reception area or conference room, the firm’s multi-generational team draws on the full range of traditional tools and advanced technologies to help corporate decision- makers instantly see how a particular space can be transformed to meet their needs.
PoskanzerSkott.com Barry@psaia.com (201) 445-2322
400 Market Street, Suite 1250 Philadelphia, PA 19106 215.625.0099 1350 Connecticut Avenue NW, Suite 412 Washington, DC 20036 202.223.1941
6A — February 27 - March 12, 2015 — M id A tlantic
Real Estate Journal
www.marejournal.com
M id A tlantic R eal E state J ournal Irving, Nozza and Cascio of BRC represent seller Bussel brokers $1.8 million trade of a 41,000 s/f industrial facility
ISCATAWAY, NJ — Bussel Realty Corp. (BRC) , an industrial real estate services firm in New Jersey, announced it has arranged the sale of 727 South Ave. in Piscataway, an industrial facility of ap- proximately 41,000 s/f. The property traded for $1.8 million and features 14-foot ceilings, five load- ing docks, one drive-in, and heavy power. It is located near Rte. 28 and proximate to major transportation ar- teries including Rte. 22 and I-287. P
The buyer, Deals For Less, purchased the facility with the intention of raising the roof an additional ten feet and will use it for the distri- bution of novelty items. Bus- sel Realty Corp executive vice president Gregory Irving, SIOR , senior vice presidents Stephen Nozza and John Cascio of BRC represented the seller, Kanter Properties, LLC. Gramercy Realty sales associate Isaac Neu- man represented the buyer. “Deals For Less is mov- ing from Brooklyn where their current location will be transformed into a residen- tial complex,” said Irving. n of negotiated exclusions and limitations. Property owners can also cut costs by requiring that managers complete all re- quired duties, including, com- plying with all applicable laws and obtaining competitive bids and approval of budgets and expenses. Each state has its own unique set of laws that are essential to be adhered tomake the most gain in cutting costs. Property owners andmanagers can both save time and money by preventing problems and de- terring defaults with adequate protections, from adequate insurance and indemnification rights, to adequate default and termination rights. And well drafted property management agreements can also help to prevent problems relating to other issues, from confidential- ity to counsel fees. Obtain the Property Man- agement Agreements You Need. It is critical to consult counsel to ensure that you have the property management and related agreements you need to succeed. If you instead use a form or “one size fits all” docu- ment that does not meet your needs, you can lose big benefits and suffer large losses. Ensure that your counsel provides you a thorough review of your agreement to not only comply with state law, but also to get you the best results. Jerry A. Nelson is a share- holder andmember of Stark &Stark’s Business&Corpo- rate, Commercial, Retail and Industrial Real Estate and Real Estate, Zoning & Land Use Groups. n Do you have the property manage- ment agreement. . . continued from page 2A
727 South Ave.
FANNIE MAE LOAN $27,075,000 Acquisition of 196-unit garden apartments Yardley, PA
FREDDIE MAC LOAN $10,137,000 Acquisition of 120-unit garden apartments Dover, DE
FHA 221(D)(4) LOAN $23,025,300 Newconstruction financing 160-unit garden apartments Frederick, MD
CONDUIT LOAN $20,000,000 Acquisition of 182,583 sf retail center Phillipsburg, NJ
Building relationships is important.
Understanding what’s important. At M&T, we know that growing and maintaining strong relationships with our customers truly matters. This is how our experienced origination, underwriting and asset management teams provide financing solutions that meet each borrower’s unique needs. And our customers like the way we do business. We’re proud that 75% of our new business comes from repeat borrowers. Find out how you can become one of them.
Contact us at 1-800-737-2344. mandtrealtycapital.com
Basedon internalcustomerdata.All loansandall terms referencedhereinaresubject to receiptofacompleteapplication,creditapprovalandotherconditions. ©2015 M&T Realty Capital Corporation.
S hopping C enters
Real Estate Journal — Shopping Centers — 7A
www.marejournal.com
M id A tlantic
Colliers’ Allentown team of Zerfass and Horner facilitate 15-year lease to The Tilted Kilt Pub Chesler of Colliers International arranges $12.9 million sale of 30,000 s/f retail strip E AST HANOVER, NJ — Colliers Interna- tional has arranged
the $12.9 million sale of a 30,000 s/f retail strip at 346 Route 10 in East Hanover. The multi-tenanted, one- story building – occupied by Party City, VerizonWireless, and Jersey Mike’s Subs – was purchased by The Klein Group from JEMB Realty , who had repositioned the property two years ago with upgrades to the facade, park- ing, HVAC systems, and roof. “Through creative mar-
346 Route 10 in East Hanover, NJ
FEB. 27 - MAR. 12, 2015
keting using multiple tradi- tional and digital channels, including Auction.com, we were able to achieve a strong price for this value-add prop- erty, which has good, in-place cash flow from its current tenants,” said Jacklene Chesler , managing director at Colliers International, who represented the seller and procured the buyer in SEWELL, NJ — Marcus & Millichap announced the sale of Cherry Tree Crossing, a 36,560 s/f property located in Sewell according to Brian Hosey , regional manager of the firm’s NJ office. The asset sold for $2.835 million. Michael Lombardi , a VP investments together with Robert Angus, associate in Marcus & Millichap’s NJ of- fice, had the listing to market the property on behalf of the seller. Lombardi and Angus also represented the buyer in this transaction. HOLMDEL, NJ — Marcus & Millichap announced the sale of Sun National Bank (ground lease), a 2,200 s/f net-leased property located in Holmdel. The asset sold for $1.225 million. Lombardi had the listing to market the property on behalf of the seller. Lombardi also rep- resented the buyer, executing a 1031 exchange. n
the transaction. “Trading at $430 psf, with 75 percent oc- cupancy is not only indicative of the lively retail market, it also signals health of the overall commercial invest- ment market.” Chesler added that the re- maining 25 percent of unoc- cupied space can be leased as one unit or divided into two, which presents significant
The Tilted Kilt Pub
upside for the new owner. EASTON, PA — The Col- liers’ Allentown team of Derek Zerfass and Scott Horner , facilitated a 15- year lease to The Tilted Kilt Pub and Eatery at 80 Kunkle Dr. in Easton. Colliers represented the landlord and Jay Miller,
from Fameco/CBRE , rep- resented the tenant. The site was a former Don Pablo’s restaurant which was sold for $1.05 million to an investment group in 2013. The Zerfass/Horner team fa- cilitated that sale as well and was retained by the owner to secure an optimal tenant. n
HI-LIGHTS
RETAIL DEALS OF 2014
SPOTLIGHT
12-16A
Lombardi & Angus of Marcus & Millichap’s NJ office completes 36,560 s/f sale totaling $2.835m
Eastern Union arranges $8.5m in refinancing
17A
Remco Realty reps. parties in $900,000 sale
Cherry Tree Crossing
18A
ALSO 2014 Sales and Leases.........14-16A Retail Brokerage Directory ......... 21A www.marejournal.com
Sun National Bank
8A — February 27 - March 12, 2015 — Shopping Centers — M id A tlantic
Real Estate Journal
www.marejournal.com
18 + million square feet ARIZONA
INDIANA Warsaw The Market Place U.S. Hwy. #30 & Water St. JC Penney, Sears, Elder-Beerman, Pier 1 180,000 SF GLA KENTUCKY Ashland Russell Centre Route 23 & Diederich Blvd. Lowe’s, Super Kroger 272,000 SF GLA / In-line Space & Pad MARYLAND Hagerstown Long Meadow Shopping Center Potomac Ave. (Route 60) & Northern Ave. CVS, PA Dutch Market 243,000 SF GLA Anchor Space/Pad Available Randallstown Brenbrook Plaza Liberty Rd. & Brenbrook Dr. Home Depot 139,000 SF GLA MASSACHUSETTS Billerica Shops at Billerica Boston Rd. (Rte. 3A) & Tower Farm Rd. Kmart, Burlington Coat, Market Basket 275,000 SF GLA / Anchor Space Available Milford Kmart Shopping Center Medway St. & Beaver St. @ I-495 Kmart, Dollar Tree 140,470 SF GLA Future Expansion Space Available MICHIGAN Flint Former Kmart Dort Hwy. (Rte. 54) & Atherton Hwy. 92,691 SF GLA Grand Blanc Holly Rd. & I-75 Vacant Land / 22 Acres For Sale Muskegon Muskegon Shopping Center Henry St. & Norton Ave. 187,000 SF GLA Anchor Space Available Port Huron Port Huron Shopping Center Howard St. & 24th St. Big Lots, Save-A-Lot, Family Dollar 118,000 SF GLA Anchor Space & Outlot Available
MICHIGAN Sandusky Kmart Shopping Center
Mesa Kohl’s McKellips Road & Recker Road 95,279 SF GLA Part of Falcon View Plaza w/ Fry’s Phoenix Freestanding Barnes & Noble 1035 N. Metro Pkwy. West & 28th Dr. Adjacent to Metro Center Mall 19,360 SF on 1.48 Acres Tolleson Freestanding Kmart West McDowell Road & North 86th Drive 86,479 SF GLA Semoran Blvd. (Hwy. 436) & Hwy. 17/92131,646 SF GLA Aldi, Deals Prime Corner/Junior Box Space Available Fern Park Future Shopping Center 26 Acre Jai Alai Redevelopment Site 6405 Hwy. 17/92 & Fernwood Blvd. near Hwy. 436 153,650 SF GLA Gainesville Mixed Use – Grocery Store & Student Housing NW 13th St & University Avenue 1.74 Acres FLORIDA Fern Park Fern Park Plaza
M-19 & Gates Rd. 176,248 SF GLA Anchor Space Available Southgate Fort St. & Burns Ave. 60,800 SF GLA Freestanding Redevelopment Opportunity MINNESOTA St. Paul Midway Shopping Center University Ave. & Snelling Ave. Rainbow Foods, Office Max, Walgreens 280,353 SF GLA 4.8 Acres Available for Development NEVADA Las Vegas Kmart Plaza E. Sahara Ave. & McLeod Dr. 127,754 SF GLA 10,945 SF Outbldg. Available Kmart at Sunset Plaza 3780 E. Sunset Rd. & S. Sandhill Rd. Kmart 86,479 SF NEW JERSEY Jersey City 235 Orient Ave. ± 15,000 SF on 0.40 Acres Freestanding Redevelopment Opportunity / For Sale Marlton (Evesham) Tri-Towne Plaza Route 70 & Plymouth Dr. 176,519 SF GLA Anchor Space Available Redevelopment Opportunity Mt. Olive Pad Sites Available Adjacent to Foreign Trade Zone Across from Walmart, Sam’s, TJ Maxx Old Bridge A & P Shopping Center Route 9 & Ferry Rd. 64,920 SF GLA 5,300 SF Pad Building Parsippany Whole Foods Shopping Center Route 46 (Bloomfield Ave.) & Cherry Hill Rd. Whole Foods Anchor, In-Line & Pads Available Vineland Vineland Marketplace S. Delsea Dr. (Route 47) & College Dr. New Development Anchor Space / Outlots Available NEW
26,000 SF Ground Floor Retail in Proposed 198,000 SF 8-Story Bldg ILLINOIS Downers Grove Marshall’s at The Grove 75th St. & Lemont Rd. 400,000 SF GLA Anchor Space Available 43,264 SF Niles Golf Glen Mart (Outparcel) Golf Rd. & Dee Rd. Up to 12,000 SF Outlot, B-T-S INDIANA Evansville Evansville Shopping Center Morgan Ave. & Boeke Rd. Rural King, Dollar General 153,000 SF GLA Indianapolis Pendleton Plaza Pendleton Pike & Shadeland Ave. Rose's Department Store 134,797 SF GLA
NEW
RD Management LLC
Thomas G. Mirandi 212-265-6600 Ext. 239 Email: tmirandi@rdmanagement.com Fax: 212-459-9133
hopping enterS
Real Estate Journal — Shopping Centers — February 27 - March 12, 2015 — 9A
www.marejournal.com
M id A tlantic
200 + retail projects NEW JERSEY Vineland Kmart Plaza Expansion S. Delsea Dr. (Route 47) & Route 55 Kmart, TD Bank Two Parcels: 4.302 & 4.486 Acres Williamstown Williamstown Shopping Center Black Horse Pike (Route 42) & Main St. CVS, Dollar General 85,000 SF GLA Anchor Space Available NEW YORK Cortland Future Development Route 13 & Bennie Road 26 Acres across from Walmart Deer Park Kohl’s Plaza NEW YORK Stony Point Stony Ridge Plaza Route 9W & Park Rd. US Post Office 21,212 SF GLA Water Mill (Southampton) Water Mill Shoppes Montauk Hwy. (Rte. 27) & Station Rd. Muse Restaurant, Vitamin Shoppe, Subway OHIO Ashtabula Home Depot Plaza Route 20 (N. Ridge Rd.) & Orchard Rd. 148,440 SF GLA 18,440 SF Expansion & Pad Columbus Great Western Commerce Center NEW NEW NEW
PENNSYLVANIA Trexlertown Macungie Crossing Shopping Center Hamilton Blvd. (Route 222) & Grange Rd. Future Strip and Pads TENNESSEE Hermitage (Nashville) Freestanding Bldg. adjacent to Jackson’s Courtyard Shopping Center 3445 Lebanon Pike 24,040 sf GLA Redevelopment Opportunity Nashville Marketplace at Rivergate Gallatin Pike (Hwy. 31-E) & Twin Hills Drive Trees N Trends, Ryan’s Buffet 111,460 SF GLA TEXAS Ft. Worth Westcliff Shopping Center Albertson’s Market, Dollar General Alton Rd. & Biddison St. 133,332 sf GLA UTAH Salt Lake City VIRGINIA Richmond Food Lion Plaza Rte. 1 (Jefferson Davis Hwy.) & Chippenham Pky. Outlots Available Winchester Freestanding Kmart S. Pleasant Valley Rd. & E. Jubal Early Dr. 410 S. 900 E. & 400 S. Freestanding Office Max New In-line Space & Pad Available
NEW
North Wilson Rd & Valleyview Dr. at Broad St. Great Western Academy, Restaurant Depot 300,254 SF GLA Mixed Use Commercial Space Holland (Toledo) Dick’s at Spring Meadows Place Airport Hwy. & I-475 Dick’s, Best Buy & Expansion Lima Westgate Shopping Center Allentown Rd. (Rte.81) and Cable Rd. Former Kmart GLA 157,326 SF Redevelopment Opportunity Oregon (Toledo) Vacant Land – 4.645 Acres Dustin Rd. & Isaac Street Dr. 1 block south of Navarre Ave. (Rte. 2) & Kmart OREGON Salem Kmart Shopping Center Mission Street S. E. & 25th St. 116,866 SF GLA PENNSYLVANIA Allentown Home Depot Plaza Lehigh St. & Route 78 220,000 SF GLA / 9.82 Acres Available Carlisle Hanover Street (Route 34) & I-81 Home Depot, Chili’s 140,715 SF GLA 10,584 SF Future Expansion/Pad Montgomeryville Five Points Plaza Cowpath / Horsham Rd. at Rte 309 & Rte 202 79,200 SF GLA Anchor Space Available Future Expansion
Commack Rd. & Grand Blvd. Kohl’s, Super Stop & Shop 182,875 SF GLA Proposed Pad 3,800 SF Glenville/Scotia (Albany) Target Shopping Center Saratoga Rd. (Route 50) & Glenridge Rd. 174,000 SF GLA In-Line Space Available Portion Rd. (Co. Rd. 16) & Patchogue-Holbrook Rd. Regal Cinemas, Dollar Tree / 94,826 sf GLA Anchor Space Available Latham/Colonie (Albany) Lake Ronkonkoma Lake Shore Plaza II
NEW
Kmart Shopping Center Route 7 & Swatling Rd. 118,863 SF GLA Up to 10,000 SF Outlot Available Monroe/Woodbury Harriman Commons Routes 17 / 6 & Route 32 Wal-Mart, Home Depot, BJ’s, Target 687,716SF GLA Anchor Space & Outlots Available Future Phase III Office or Retail Nanuet Home Depot Plaza Route 59 & Hutton Ave. Home Depot, Staples 250,000 SF GLA/Pad Available Orangetown Orangeburg Commons Route 303 & Palisades Parkway Super Stop & Shop Pads Available
88,479 SF GLA WEST VIRGINIA St. Albans St. Albans Center Route 60 & MacCorkle Ave. SW Kmart, Super Kroger, Goody’s, CVS 230,000 SF GLA PUERTO RICO Arecibo Arecibo Towne Center Routes 2 & 22 Future Development Anchor Position & Outlots Available Ponce
Reina del Sur; Outlots at Ponce Towne Center II Rtes. #2 & Baramaya Ave. (Rte. 10) @ PR-52 Walmart Supercenter, Home Depot New Development & Pads 525,000 ± SF GLA
RD Management LLC
Thomas G. Mirandi 212-265-6600 Ext. 239 Email: tmirandi@rdmanagement.com Fax: 212-459-9133
10A — February 27 - March 12, 2015 — Shopping Centers — M id A tlantic
Real Estate Journal
www.marejournal.com
S hopping C enters
Cantor Commercial Real Estate provides financing JCRCompanies acquires MD shopping center for $22million
CCOKEEK, MD — The JCR Companies has acquired Mano- keek Village Shopping Center in Accokeek for $22 million. The seller was Klaff Realty . This 90,172 s/f grocery-an- chored shopping center is located at the heavily traveled intersection of Manny and Berry Roads in Prince George’s County, with a traffic count of 90,000 vehicles per day. The property includes ad- ditional land approved for development. Cantor Commercial Real Estate provided financing for the inline retail space, while Eagle Bank financed the pad sites. With this flexible ar- rangement, JCR plans to sell the pad sites and maintain long-term ownership of the inline space. A
Manokeek Village Shopping Center
“We are thrilled to add Manokeek Village Shopping Center to our portfolio,” said Joe Reger , principal, The JCR Companies. “We like the fundamentals of Southern Maryland, with substantial new housing starts and no new retail development planned for the foreseeable future.” n locations, R.J. Brunelli was also ap- pointed leasing representative for Amazing Lash Studio, for NJ’s Monmouth, Middlesex, Somerset, Union, Morris, Hud- son, Essex, Passaic, and Ber- gen counties, and for Staten Island, Long Island and West- chester County in NY State. n OLD BRIDGE, NJ — R.J. Brunelli & Co., LLC an- nounced a national tenant representation assignment for Speedpro Imaging, a New Jersey brokerage agreement for The Joint…The chiro- practic place, and a tenant representation assignment for Amazing Lash Studio covering R.J. Brunelli announces NJ & NY tenant rep assignments major areas of NJ and NY. Speedpro is seeking 2,500- to 3,500 s/f, flex-space locations situated in high-density busi- ness areas throughout all 48 states in the continental U.S. R.J. Brunelli was also ap- pointed preferred broker for The Joint. The company is seeking 1,000- to 1,500 s/f
Check out the new MAREJournal.com!
INNOVATIVE Land Development SOLUTIONS
And Like us on Facebook!
SITE CIVIL AND CONSULTING ENGINEERING LAND SURVEYING LANDSCAPE ARCHITECTURE PERMITTING SERVICES
SERVING THE EAST COAST
BOHLERENGINEERING.COM
NOW OPEN: MOUNT LAUREL
Real Estate Journal — Shopping Centers — February 27 - March 12, 2015 — 11A
www.marejournal.com
M id A tlantic
S hopping C enters
S 48,000 s/f single tenant net lease sale led by Neuman Greysteel arranges sale of LA Fitness totaling $13.1m ILVER SPRING, MD — The Greysteel Compa- ny ’s Mid-Atlantic retail
i nves tment sa l e s t eam l ed by Gi l Neuman has arranged the sale of LA Fit- ness, a 48,000 s/f single ten- ant net leased gym located
Gil Neuman
LA Fitness
at 8616 Cameron St. in Down- town Silver Spring, Montgom- ery County. The sale price was $13.1 million. The two-story facility built on a half-acre Greysteel served as advisor and agent to the seller, Wash- ington Property Company, and procured the buyer, Excalibur Development, LLC. Landmark Comm’l. Realty inks three retail transactions CUMBERLAND COUNTY, PA — Landmark Commer- cial Realty, Inc. completed
“The Greysteel retail team is pleased to have secured a sophisticated investor who val- ues the irreplaceable core real estate and its high-end long-
term tenant,” said Gil Neuman, Greysteel managing director. “We congratulate both our cli- ent and the buyer on a smooth and successful transaction.” n
RE_ad_version1.qxp 11/2/2005 11:54 AM Page 1
We’re looking for sites in PA End Cap, In-line, Free Standing Flexible Space Requirements Retail Opportunities Needed Consistently Ranked #1 Franchise - 45+ Y ear T rack Record
the following transactions: • B r a d l e y B r y a n h a s p u r c h a s e d 173 S Enola Dr. Seymour Ba r g e t o f L a n d m a r k Commercial Realty rep- resented the seller, Gary Dob r i no f f a n d J o a n Beat t ie of C o l d w e l l Banker rep- resented the buyer. • GMH Mort- gage Services, LLC recently leased an of- f i c e s p a c e l o c a t e d a t 3913 Market St. in Camp Hill. Arthur Campbell of
Seymour Barget
Roy Brenner
Non-Traditional Venues - Hospitals/Colleges Universities/B&I/Stadiums/Casinos/Airports
Local Contacts:
Thomas Posavec
Eastern PA — 610-366-8120 x 24, Cheryl Green green_c@sdepa.com Philadelphia PA — 610-768-8990, Rawley Shelton rawleyshelton@gmail.com
Campbell Commercial Real Estate represented the tenant. Roy Brenner of Landmark Commercial Realty negotiated the lease on behalf of the land- lord, H Le and O Pham. • The University of Phoenix, leased office space located at Olde Liberty Sq. in Harris- burg. Thomas Posavec of Landmark Commercial Realty negotiated the lease on behalf of both the tenant and the land- lord, OLS Partners, LP. n
realestate.subway.com www.subway.com
facebook.com/SDEPA1
12A — February 27 - March 12, 2015 — Shopping Centers — M id A tlantic
Real Estate Journal
www.marejournal.com
Congratulations! Taylor/Zang/Dougherty Group
T op R etail
JANUARY 31 – FEBRUARY 13, 2014 Advance Realty receives approval for 345 apartments & 18,000 s/f of retail Azarian Group’s Raritan Center is now underway The Goldstein Group brokers 31,000 s/f for Planet Fitness Eastern Union negotiates $7.75 million and $4.15 million loan refinances Leonard S. Fiore gains commitment to build nationally recognized hotel FEBRUARY 28 - MARCH 13, 2014 Divaris Real Estate named one of 2014 best places to work in VA Marcus & Millichap Philadelphia arranges $6.6 million sale Gruskin Group wins ICSC US Design & Development Award Winick Realty Group welcomes industry veteran Kornitzer MARCH 28 - APRIL 10, 2014 LMS Commercial Real Estate leases 8,775 s/f in three transactions CronheimMortgage arrange $8 million financing of ShopRite in Belleville, NJ Hospice of the Chesapeake receives $1m gift from Greenberg Gibbons & Reliable Contracting Handwerker promoted to vice president of The Goldstein Group APRIL 25 - MAY 14, 2014 Sitar Realty Co. announces sales & leases in NJ including $2.844 million sale Weiss Realty negotiates retail leases and investment sales totaling $11.5m Kislak completes $18.25m sale of 16,000 s/f mixed use portfolio Cedar Realty Trust acquires Quartermaster Plaza for $92.3 million Retailers change direction with space in NJ, By Rick Rizzuto, Transwestern MAY 30 - JUNE 12, 2014 Colliers brokers sale of $4.3 million Emmorton Village Traynham of Rhino Realty brokers 32,000 s/f lease in New Orleans NAI CIR handles 13,365 s/f sales transactions on behalf of owner Sweeney of NorthMarq completes $7.475m construction loan for Lionville SC National Realty &Development Corp. adds tenants to Kohl’s Plaza inHolmdel Cushman & Wakefield orchestrates sale of retail property for $35.7 million
for brokering the $6.6 million sale of Winslow Plaza, a 40,695 s/f shopping center in Sicklerville, New Jersey
NATIONAL BROKERAGE SERVICES
RETAILER 100 programs LANDLORD 300 properties MANAGEMENT 7 million square feet INVESTMENT sales
HIGHLY VISIBLE RETAIL SPACE FOR LEASE IN BUSY SHOPPING CTR! Greenridge Plaza, 1600-1636 Greenridge Street, Scranton, PA
• 58,000 sf (divisible) and pad site available for lease • Space offered as vanilla box • HVAC and existing plumbing • Anchored by Planet Fitness and Giant; Other current tenants include Subway, Rent-a-Center, Quest Diag- nostics & Wine & Spirits • Easy access to Routes 81, 84, 380, 6 and 11
PHILADELPHIA, PA CONSHOHOCKEN, PA MOUNT LAUREL, NJ
For more information, please contact:
John Crampsie 610 871 1683 jcrampsie@naisummit.com
www.metrocommercial.com
610 264 0200 naisummit.com
Leasing/Sales Investment Sales Property & Asst Mgmt Distressed Properties Project Mgmt Corporate Services
Real Estate Journal — Shopping Centers — February 27 - March 12, 2015 — 13A
www.marejournal.com
M id A tlantic
eals of 2014
Congratulations to the top retail deals of 2014! We hope to see you again in these upcoming shopping center spotlights:
JUNE 27 - JULY 10, 2014
Retail industry veteran Fioretti joins NAI Hanson Bennett Williams brokers 1.92 acres of sales and 23,064 s/f in leases NAI Summit represents owner in two transactions with national retailers Wolfson Group’s Hilltown Crossings welcomes Burlington to the newly redeveloped shopping center JULY 25 - AUGUST 14, 2014 Levin Management completes Phase I lease up at Edgewater Harbor The JCR Companies acquires DC, VA retail for $15.85 million Whitestone Associates, Inc. celebrates 20th anniversary NRDC announces 56,000 s/f opening of Hobby Lobby at Pohatcong Plaza AUGUST 29 - SEPTEMBER 11, 2014 Lanyard of The Goldstein Group brokers 41,000 s/f Price Right 23,000 s/f leased inFormer Pathmark site at Eastman-managed shopping center TPD opens new office in Chester County, PA SEPTEMBER 26 - OCTOBER 9, 2014 WP Realty announces disposition of the Metro Boston Retail portfolio Myers of LMS Commercial sells +7 acre & leases 23,180 s/f Metro Commercial’s Londres selected as 15 Power Brokers OCTOBER 24 - NOVEMBER 13, 2014 Katz Properties acquires 107,220 s/f Gloucester Town Center Nassimi Realty completes purchase of two SCs in EPA totaling 185,000 s/f Unison Realty Partners acquires 145,000 s/f shopping center NOVEMBER 27 - DECEMBER 26, 2014 CBRE’S Nathanson & Gorman broker sale of Village at Cambridge Crossing in Mount Laurel, NJ totaling $41.7 million Arrow RE welcomes Damico, London and Carter-Amuzu Keystone, Mack-Cali and Parkway Corp. announce retail lease with La Colombe
March 27th: Retail Experts April 24th: Las Vegas RECON ICSC Convention May 29th: Retail Architecture, Construction, & Engineering June 26th: Retail Profiles & Retail Organizations
INVEST WITH THE RIGHT RETAIL TEAM IN PHILADELPHIA
Serving as trusted advisors to Philadelphia metro retail owners— from institutional to private clients—is a role we take seriously. Backed by the world’s most powerful real estate platform, with the region’s most comprehensive retail services and the leading market share, our team is committed to delivering superior results. For every client, on every assignment.
BRAD NATHANSON EXECUTIVE VICE PRESIDENT +1 484 567 2821 brad.nathanson@cbre.com THOMAS GORMAN SENIOR VICE PRESIDENT +1 484 567 2823 thomas.gorman@cbre.com For your retail investment, leasing and management needs, please contact:
Congratulations to Marc Tropp and Michael Obadia for negotiating a $7.75m and a $4.15m loan
refinance in Maryland and Washington, DC!!
Severna Park Market Center, Severna, MD 13-Unit Office & Retail Center $7,750,000
cbre.com/philadelphia
14A — February 27 - March 12, 2015 — Retail Deals of 2014 — Mid Atlantic Real Estate Journal www.marejournal.com MAREJ R etail T ransaction R eport 2014 A s R eported I n T he M id A tlantic R eal E state J ournal J anuary 17 - D ecember 19, 2014
Seller/ Owner/ Lessor
Rep. of Seller/ Lessor
Buyer/ Tenant/ Lessee
Rep. of Tenant/ Buyer
Property Name
Address
Price
Size
Desc. S/L Mo
162 60th St.
West New York, NJ
H. Jonassen
Michael Cervelli RE Marcus & Millichap
$695k
6 units
Apt/Retail S Jan
14 Rte. 36
Hazlet, NJ
Marcus & Millichap
14,500 s/f Retail
S Jan L Jan L Jan L Jan L Jan L Jan L Jan L Jan S Jan L Jan L Jan L Jan S Jan S Jan L Jan S Jan S Jan L Jan L Jan L Jan L Jan L Jan S Jan L Jan L Jan L Jan S Jan S Feb
235-245 West Market St. York City, PA
ROCK ROCK ROCK ROCK ROCK ROCK
Nuts About Granola
ROCK ROCK ROCK ROCK ROCK ROCK
5384 s/f 1500 s/f 11,114 s/f
Retail Retail
555 Ryan Run Rd. 1022 Mount Rose
Manchester, PA Spring Garden
Sapio Sciences Atomic Bounce Winter Ventures
701 East Hay St.
York, PA
22,730 s/f
12 Locust Grove Rd.
Springettsbury, PA New Freedom, PA
J.A. Miller D. Gettle
840 s/f 1972 s/f 3600 s/f
Retail Retail Retail Retail
6 East Main St.
470 Eisenhower Dr. 36-38 E. Main St. 230 N. Main St.
Hanover, PA
Scotto Malvone
NAI CIR
JPS Marble & Granite
LMS
Mechanicsburg, PA
Jack Gaughen
D. McCreary & Family Landmark Comm’l.
Shresbury, PA
230 Main St Assoc. Bennett WIlliams
South Penn Code
Bennett WIlliams
1700 s/f
Retail/Off L 4Jan
Consultants
2997 Cape Horn Rd.
Red Lion, PA
Bennett WIlliams
The Vacuum Ctr. Smithsburg Cleaners
Bennett WIlliams Bennett WIlliams
1200 s/f 1040 s/f 1184 s/f
Retail Retail Retail
Wayne Plaza
Chambersburg, PA
Wayne Ave. Plaza Bennett WIlliams
York Mall
York, PA
THF Realty
Great Clips
LMS
Boonton A&P Center Bloomfield A&P Center Northampton Crossings
Boonton, NJ Bloomfield, NJ
Urstadt Biddle Urstadt Biddle
$18.35m
63,000 s/f retail
$11.005m 56,000 s/f retail
Easton, PA
Visionworks
NRDC
3,100 s/f
retail
Minnieville Plaza 5805 Grove Ave.
Woodbridge, VA Richmond, VA
Commonwealth Comm’l Commonwealth Comm’l
$5.9m $3.1m
35,000 s/f retail 13,210 s/f retail 30,000 s/f retail
Chester, PA
Commonwealth Comm’l
Big Lots
11002 W. Broad St. 11736 W. Broad st.
Richmond, VA Richmond, VA
Commonwealth Comm’l Bridgestone, Firestone
6,944 s/f
retail
Divaris Real Estate Divaris Real Estate Divaris Real Estate Bennett Williams Bennett Williams
PetSmart
Divaris/Metro Comm’l
19,734 s/f retail
6109 E. Va Beach Blvd.
Norfolk, VA
Furniture Liquidators
6,100 s/f 1,800 s/f 2,100 s/f
retail retail retail
6546 Hampton Rds. Pkwy Suffolk, VA
SO Simple Salons
846 Lancaster Ave. 300 Bailey Drive 3950 TecPort Dr. 975 Wayne Ave.
Columbia, PA
Da, LLC
Bennett Williams Bennett Williams
Stewartstown, PA Harrisburg, PA Chambersburg, PA
Carlton Grady
2,400 s/f retail
3950 TechPort Dr. Bennett Williams
image 360
2,730 s/f
retail
Bennett Williams
Volcano Japanese Rest Bennett Williams
2,600 s/f retail 7,609 s/f retail 58.7 acre Retail
7991 Compass Point Lane Mechanicsville, PA
The Hampshire Companies
CBRE
Port Covington
Baltimore, MD
Finmarc
2701 Port Covington
$35m
Drive, LLC Blitz Family Host Interiors
351 Route 22 Lancaster Ave.
North Plainfield, NJ
Homeowner Haven BRC
$875k
20,000 sf Ind/Retail S Feb
Ardmore, PA
Gaylon
Metro Comm’l.
Precision Realty CBRE/FAMECO
5000 sf
Retail Retail Retail
L Feb L Feb S Feb
King of Prussia Mall 1831 E. Carson St. Newport Crossing
King of Prussia, PA
Echo Retail
Dick’s
Pittsburgh, PA
CBRE
AMPD Grp.
$1.2m
Newport News, VA
Harbour Grp
Greysteel
$12.85m $6.61m
194,000 s/f Retail 40,695 sf Retail
S March S March
Winslow Plaza
Siklerville, NJ
RPC RE,
Marcus & Millichap
Wheeler Interests
Marcus & Millichap
Merion Realty Ptrs
Former BOA
Wahsington, DC Wilmington, DE Conshohocken, PA
Marcus & Millichap Patterson-Woods
Congressional Comm’l Marcus & Millichap
$750k $740k
2419 sf 2315 s/f 9100 s/f 3000 sf 1875 sf 3900 sf 1,955 s/f 6,895 s/f
Retail Retail Retail Retail Retail Retail Retail Retail
S March S March L March L March L March L March L March L March L March S March L March
2707 Concord Pike Cedarbrook Plaza
Church Road, LLC
Empire Beauty School Equity Retail
Northgate
Lancaster, PA
LMS LMS LMS
Randy’s BBQ
Eastern Blvd SC Grandview Plaza
Essex, MD
Little Ceaser’s Pizza New York Diner Jersey Mike’s Subs Advance Auto Parts
MacKenzie Retail
Hanover, PA Red Bank, NJ Hanover, PA
100 Water St.
City Centre Plaza
Sitar Realty Co.
South Hanover SC
LMS Commercial LMS Commercial ROCK Comm’l. ROCK Comm’l.
Gabriel Brother’s Plaza 1050 Highland Dr. 2056 Springwood Rd.
York, PA
Constellation Fairview I, LLC After You Fine Consignment
1,000 s/f
York County, PA York County, PA
78.14 acre Res
ROCK Comm’l.
1,493 s/f
Retail
A&P
Belleville, NJ
Mount Kellett Capital Mgmt.
Black Oak & MBC
54,000 s/f Retail
S March
Friendlys
Morris Plains Hamilton, NJ
Marcus & Millichap Marcus & Millichap
Marcus & Millichap Marcus & Millichap Metro Commercial
$1.23m
2,428 s/f
comm’l S March
Nottingham Plaza Quartermaster Plaza 2495 Lincoln Hwy East
$960,000 8,200 s/f retail
S March S April L April
Philadelphia, PA
Cedar Realty Trust Gardner’s Mattress
$92.3m
450,000 s/f Retail
Lancaster, PA
Rhino Realty
LMS Comm’l
4,321 s/f
Retail
Page 1 Page 2 Page 3 Page 4 Page 5 Page 6 Page 7 Page 8 Page 9 Page 10 Page 11 Page 12 Page 13 Page 14 Page 15 Page 16 Page 17 Page 18 Page 19 Page 20 Page 21 Page 22 Page 23 Page 24 Page 25 Page 26 Page 27 Page 28 Page 29 Page 30 Page 31 Page 32 Page 33 Page 34 Page 35 Page 36 Page 37 Page 38 Page 39 Page 40 Page 41 Page 42 Page 43 Page 44 Page 45 Page 46 Page 47 Page 48 Page 49 Page 50 Page 51 Page 52 Page 53 Page 54 Page 55 Page 56 Page 57 Page 58 Page 59 Page 60 Page 61 Page 62 Page 63 Page 64 Page 65 Page 66 Page 67 Page 68 Page 69 Page 70 Page 71 Page 72 Page 73 Page 74 Page 75 Page 76Made with FlippingBook HTML5