Real Estate Journal — Shopping Centers — July 25 - August 14, 2014 — 15C


M id A tlantic

S hopping C enters

Price Right opens first New Jersey store in Garfield Lanyard of The Goldstein Group brokers 41,000 s/f


arfield, NJ — The Goldstein Group has placed Price Rite, a

d i v i s i on o f Shop Rite, at the site of a former A&P Supermarket l o c a t e d i n Garfield. “This will be the first Price Rite in

Chuck Lanyard

NJ,” said Chuck Lanyard , president of The Goldstein Group. “There are 55 other Price Rites located throughout the North East.” The Garfield Price Rite will be operated by Inserra Super- markets, which owns 22 Shop Rite supermarkets in NJ and NY. Price Rite sells a variety of discounted products but with fewer choices than a larger tra- ditional supermarket. Price Rite filled a 41,000 s/f former A&P space at 59 Out- water Ln. Neighboring tenants of this location include Kmart, Rite Aid, Verizon, Dunkin Donuts, Capital One, Home Depot, Walgreens, Pathmark, GNC, and Subway. Lanyard brokered the trans- action on behalf of the landlord and the tenant. n Marcus&Millichap sells Pittsburgh- area grocery- anchored SC INDIANA, Pa — Marcus & Millichap announced the sale of Townfair Center, a 218,610 s/f grocery-anchored community shopping center in Indiana, PA. Joseph French , a senior director in the firm’s National Retail Group, and Thomas Dalzell , an associate, both in Marcus & Millichap’s West- chester office in White Plains, NY, represented the seller. “At the time of the sale, Townfair Center was 100% leased to a strong mix of na- tional and regional tenants,” said Dalzell. “Shopping cen- ter vacancy is just 3.4% in the area and the presence of nearby Indiana University of Pennsylvania helps keep the local economy stable.” The property was built in 1995 and renovated in 2010. It is located at 475 South Ben Franklin Rd. in Indiana, PA. just down the road from Indiana Mall, a 518,388 s/f regional mall. n

Price Rite

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