12A — February 28 - March 13, 2014 — Mid Atlantic Real Estate Journal
Feature Top Retail S hopping C enterS t op
S hopping C enters It’s not just part of our name. It’s our commitment toYOU. Always.
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www.marejournal.com Mid Atlantic Real Estate Journal — Shopping Centers — July 25 - August 14, 2014 — 11C January 25 ~ February 7, 2013 Nathanson formerly of Marcus & Millichap negotiates $7M purchase of The Shops at Walnut Grove. Sol ff of Soloff Re l y & Developme t represent d the seller Katz Properties acquires 3 anchored centers totaling $22.4M Cronheim Mortgage arranges $13.2M financing for Totowa Square Shopping Center Gerlach of Metro Commercial negotiates $775K sale of 3.85 acres on Rte. 73 Gallicchio of Remco Realty reps buyer & seller in $600K sale of former Blockbuster February 22 ~ March 14, 2013 Divaris Real Estate, Inc. brokers sale of Hungarybrook Shopping Center for $5.7M Nicholson & Myers of LMS Commercial Real Estate secure $1.85M sale Balliet of KW Commercial completes $1.151M sale of retail strip center WP Realty announces the 447,037 s/f sale of Fairlawn Town Center Stine & Rohrbaugh of Bennett Williams rep seller in $2.6M sale / WRDC purchases the 142,965 s/f Shippensburg Shopping Center March 29 ~ April 11, 2013 acquired 1522 14th St., NW, with 2,710 s/f of retail space including the popular locally owned specialty shop Cork & Fork. A prior tenant, Home- made Pizza Company, has vacated and it 910 s/f of space is now available. commercial space and nearly 1,200 single-family homes, townhomes, condominiums, and apartments. a s h i n g t o n , DC — The JCR Companies has Including 51,800 s/f of retail space at Lorton Station Town Center for $13.8 million The JCR Companies acquires DC, VA retail for $15.85 million W Sales | Leasing | Investment | CRE Advisory Services JV of Katz Properties & Spectrum Partners acquire Red Lion SC for $31.4M Morris & Stewart of Cronheim Mortgage arranges $15M for Crossroads Center Vastgood/Southern Realty venture purchases 129,600 s/f Thruway Plaza NAI Hanson announces sale of $400K retail site in Bergenfield, NJ Nathanson formerly of Marcus & Millichap secures buyer in $1.7M sale April 26 ~ May 9, 2013 “We are excited about the growth of the Lorton area and the strong y ar-over-year rid- rship increases at the Lorton VRE Station,” said Joe Reger , managing partner of The JCR Companies. He added that the new ownership plans to reposition bout 7,000 s/f of tail sp c that is leased b t currently vacant, and hold the property for the long term. JCR’s million acquisition was financed by Cantor Commer- cial Real Estate . Calkain continued to grow in 2013 610.997.0100 | www.VeraxiaCRES.com | Bethlehem, PA Costas J. Hrousis, CCIM Shawn M. Donahue, MBA | Co-Founder + Principal | Co-Founder + Principal “This is our ninth acquisition on 14th St., which has incred- ible velocity and is only in its infancy,” said Reger. “Our Lo- gan Circle portfolio now totals approximately 50,000 s/f of retail space and parking. We continue to seek retail proper- ties both large and small in the District or within one hour’s drive, and hope to acquire more retail ssets in the second half of 2014.” n Regency Centers. It is 100% leased to 19 local, regional, and national tenants including Wells Fargo, Fireside Grill, Subway, Pan e Vino, FedEx, and others. It is part of a mixed-use project with more than 170,000 s/f of office and acquired the 51,800 s/f of re- tail space at Lorton Station Town Center for $13.8 million, shortly after scooping up a retail building housing Cork & Fork in the heart of the thriving 14th Street corridor in Washington, DC. The Lorton Station Town Center, which occupies the ground-floor area directly above the Virginia Railway Express (VRE) commuter train station, was sold by July 25 - Aug. 14, 2014 The Lorton Station Town Center Grand Opening of junior anchor stores Marshalls and Ross summer 2014 WolfsonGroup announcesmajor redevelopment of MacDade Mall in Holmes, Pennsylvania In JV, Onyx Equities & Artemis R.E. Ptrs. acquire 218,600 s/f Plainsboro Plaza Gorman & Shover of Marcus & Millichap arrange $9.333M sale of Shopping Center Taylor, Zang & Munley of Marcus & Millichap sell net leased building for $9.3M Zamir Equities acquires 180,000 s/f Power Center Greenberg Gibbons celebrates 49,002 s/f Harris Teeter Opening May 31 ~ June 13, 2013 NAI Hanson’s Messer & James cl se sale of $6.3M Shopping Center in Woodbridge, NJ. Duggan & Jones of NAI DiL o Bram & Co. represented the buyer Before losing on Lorton Station Town Center, JCR SPOTLIGHT Retail Brokerage Directory HI-LIGHTS
Fitness, McLaughlin’s Bever- age, Hair Cuttery, Ruby Tues- day, Ambiance Nails, SONIC, and Burger King, with addi- tional tenants to be announced in coming months. New junior anchors are Marshalls, which opened in August 2013, and ROSS, which will launch its grand opening in July 2014. MacDade Mall tenants ben- efit from a high density trade r a with excellent local and regional roadway arteries, and visibility by 24,000 vehicles
per day. Wolfson said “The local sup- port we have received in rede- veloping MacDade Mall has been tremendous. This project is a great example of what can happen when a concerned developer and municipalities cooperate. Representatives of both Ridley Township and Glenolden Borough worked together with Wolfson Group and each other to restore the vitality of this significant property.” n
Additionally, a new central corridor provides access to ten- ants situated in the rear of the site. The renovation has cre- ated approximately 120 new jobs at MacDade Mall. Straddling the line between Ridley Township and Gle- nolden Borough, the newly up- gradedMacDade Mall includes 274,500 s/f of retail space and parking for 875 cars. Anchored by Big Kmart and ACME, re- tail tenants presently include TDBank, Citizens Bank, Retro
14C Transactions Aggregate Average CAP Rate of 5.98% $9 Billion in sales in 9 years Meet us at the ICSC Mid-Atlantic Conference Lanyard of The Gold tein Group brokers 41,000 s/f 15C HOLMES, PA — Wolfson Group, Inc., a commercial real estate developer and manager operating primarily in the greater Philadelphia region, announces that the newly redeveloped MacDade Mall at 2600 MacDade Blvd. in Holmesv is 97% leased. Steven Wolfson , chairman and CEO of Wolfson Group, said, “The community has responded enthusiastically to the rebirth of the landmark shopping center bordered by Glenside and South Avenues.” WhenMacDade Mall opened in 1969, it was at the forefront of the enclosed mall move- ment. Serving local residents for more than 25 years, the Mall remained vibrant until the early 1990s, when the new I-476 made other centers easily accessible. Restoring the property after nearly two decades of decay, Wolfson Group invested $10 million to gut the entire structure down to the steel, remove the mall’s interior enclosure, install new utilities, and re-orient store- fronts with all-new facades towards the street—effectively “de-malling” the shopping cen- ter so tenants can welcome a new generation of customers. Contributing Columnist Scott C. Butler, Esquire, Kaplin Stewart 11-22C ALSO Retail Brokerage Directory ...20-21C Business Card Directory .........22C www.marejournal.com
Gallicchio f R mco Realty Group completes $3.3M sale of Shopping Center Greenberg Gibbons & Vanguard kicks off $140M revitalization project Veraxia CRES selects 5.09 site in Hamburg, PA for Cigar’s International newest Super-Store. Lobar Associates was the design build contractor for the project June 28 ~ July 11, 2013
Urstadt Biddle acquires The Village Shopping Center in NJ for $34.85M Lombardi & Sabharwal of Marcus & Millichap NJ sell $5.4M strip center NAI Hanson’s Herrick & Schilp rep owner in sale of $1.1M development site Remco Realty Group, LLC celebrates 5 Years The Promenade at W mossing Square retail center under development
The Promenade AT WYOMISSING SQUARE
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For leasing inFormation contact: greg Heflin 215-592-8905 email@example.com John Buccino 610-370-8508 firstname.lastname@example.org For leasing inFormation contact: WYOMISSING SQUARE LIVE. WORK. PLAY. SHOP. DINE. STAY.
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