C — April 12 - 25, 2013 — Pennsylvania — Mid Atlantic Real Estate Journal
www.marejournal.com
P ennsylvania
New Morgan Business Center site GREPannounces Berks prop. receives KOZ designation
ARLISLE , PA — Charter Realty and Development has To Carlisle Crossings in Pennsylvania for 10,478 s/f Charter Realty & Dev. signs Furniture and Mattress King C
added the Furniture and Mat- tress King to its Carlisle Cross- ing Center. Carlisle Crossing is one of Charter’s larger centers at just over 370,000 s/f. The Furniture and Mattress King store stands at 10,478 s/f in the freestanding, eastern- most building in the center. Carlisle Crossing is one of Charter’s signature centers. It features some of the big- gest magnet, anchor stores like Target, Kohl’s, Michael’s and Petsmart. The center is also home to a wide variety of other restaurants, and retail. Carlisle Crossing’s location is extremely conducive for busi- ness. The Center is almost at capacity with just a few empty PHILADELPHIA , PA —Representing Crown Two Penn Center Associates, Per- naFrederick Commercial Real Estate has negotiated eight renewals and three new space contracts for 27,700 s/f of class A space at 2 Penn Center Plaza. Stephen Perna and Matt Frederick of PernaFrederick brokered all the agreements that have a combined aggregate rental exceeding $2 million. Opening an office in some 1,916 s/f on the 10th floor is at- torney Joel Jay Kofsky. Kofsky was represented in the lease negotiations by Mike Dolan , a broker with Stockton Real Estate Advisors . In a relocation to Two Penn from University City, JNA Capital, Inc. , r is occupying 1,224 s/f on the 11th floor of the 20-story building at the south- west corner of JFK Boulevard and 15th St.
Carlisle Crossing
suites. For the most part these vacant stores are under 1,500 s/f. Carlisle Crossing boasts
ample parking in addition to everything else. This center is one of Charter’s very best. n
PernaFrederick Comm’l. brokers nine renewals Moving from the 4th floor to 1,000 s/f on the 18th floor of Two Penn Center is BOE Securities. BOE Securities was represent- ed in the lease negotiations by Dylan Langley , a broker with Jones Lang LaSalle. KevinMaloney, a broker with CBRE represented Sargent’s Court Repository in finalizing the terms of the renewal.
Reading, PA — The Greater Reading Economic Partnership (GREP) an- nounced that the PA Depart- ment of Community and Economic Development has designated 206 acres of the New Morgan Business Center site as a Keystone Opportunity Zone (KOZ). This newly-desig- nated zone features 206 acres of land either for sale or for lease in a prime development location at the Morgantown Interchange of the Pennsylva- nia turnpike. Its central locale enables businesses to draw from a labor pool encompass- ing Berks, Chester, Lancaster, Montgomery and Schuylkill counties. “We are excited to be able to promote the New Morgan Business Center site as a KOZ area,” said Jon Scott , President and CEO, GREP. “This unique program allows Greater Reading to develop underutilized land and build- ings by providing tax relief at both the state and local level. It encourages business not only to consider relocating to Greater Reading but also to expand.” Keystone Opportunity Zones Allentown, PA —Otho- rhinolaryngology Associates, ear, nose, and throat special- ists have purchased a new 4,000 s/f medical suite at 3050 Hamilton Boulevard in Allen- town from Polaris Hamilton Court LP. Dr. Andrew Wakstein and
(KOZ) have been called one of the nation’s boldest and most innovative economic and community development pro- grams. Specifically, through credits, waivers and broad- based tax abatements, total taxes on economic activity in these zones are significantly reduced. These benefits can affect the following taxes: State: Corporate Net Income tax • Capital Stock and Foreign Franchise tax • Personal Income tax • Sales and Use tax (pur- chases consumed and used by businesses in the Zone) • Mutual and Thrift Institu- tion tax • Bank and Trust Company Shares tax • Insurance Premium tax Local: Earned Income/Net Profits tax • Business Gross Receipts, Business Occupancy, Business Privilege and Mercantile tax • Sales and Use tax (coun- ty/city; purchases used and consumed by business in the Zone) • Property tax. n Dr. Eric Holender are the medical group’s general part- ners. Jay Haines , vice president at NAI Summit, represented Drs. Wakstein and Holender; while Jessica Gentile rep- resented Polaris Hamilton Court LP. n
Ty Lin International has renewed its lease for 2,271 s/f on the 13th floor, as the law office of Michael E. Finger- man renewed its lease of 1,850 s/f on the 10th floor. Wayne Hunt , a broker with Tactic , represented Michael Finger- man in finalizing the terms of the renewal. Opening a new location in some 1,192 s/f on the 11th floor is Main St. Dental, represented in the lease negotiations by Scott Lewis, a broker with MS Fox Real Estate . In the final renewal, Den- nis Richman Services for the Professional is continuing to occupy some 1,100 s/f in an agreement negotiated by Michael Dolan , a broker with Stockton Real Estate Advisors . n
In the largest of the renewals, Bio-Rad Laboratories extended its lease of 4,795 s/f on the 8th floor of the building in an agree- ment that will continue that occupancy until the later years of this decade. The law firm of Louis T. Savino, a criminal defense at- torney, has extended its lease of some 3,391 s/f on the 15th floor, while Bolognese &Associ- ates has renewed it occupancy of 3,155 s/f on the third floor of the building. Neff & Associates has ex- tended its lease of 2,722 s/f on the 12th floor, while Sargent’s Court Repository has extended its lease of 2,415 s/f on the 17th floor.
Bethlehem, PA — Brix- mor Property Group has re- cently negotiated the following transactions in the MidAtlantic Region. BethlehemSquare, located on Rte. 191 announced a 3,000 s/f Your Wireless Verizon Wireless Retailer recently opened. Marc Mandel of Fameco repre- sented the tenant. Bethlehem Square was represented by Craig Sherby with Brixmor. NewGarden Shopping Center in Kennett Square announced a 2,400 s/f Nail Doctor recently Brimor Property leases 10,890 s/f in 6 transactions opened. Brixmor is the owner of New Garden Shopping Center. Bethel Park in Bethel Park announced a 2,450 s/f Rice Inn recently opened. Janet Nas- sif of Keller Williams Real Estate represented Rice Inn. Brixmor is the owner of Bethel Park and was represented by Linda Berger with Brixmor. North Penn Marketplace, located at the intersection of Valley Forge Rd. and Sum- neytown Park in Lansdale an- nounced a 2,000 s/f Oki Sushi recently opened. Brixmor is the owner of North Penn Market- place and was represented by Tammy Hovhannesian with Brixmor. Bristol Park, in Bucks Coun- ty in Bristol announced a 2,000 s/f lease was executed with Smoke Shop. Brixmor is the owner of Bristol Park and was represented by Sherby. Dillsburg Shopping Center, located in Dillsburg announced a 1,200 s/f A&D Nails recently opened. Brixmor is the owner of Dillsburg Shopping Center and was represented by Berger. n
Haines Of Nai Summit represents Otorhinolaryngology Associates in 4000 s/f
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