April 2024

S hopping C enters P ennsylvania

M id A tlantic Real Estate Journal — Pennsylvania — April 2024 — 9B


New therapy gym among highlights at Northeast Philadelphia SNF Marquis Health Consulting Services spearheads reno. of Roosevelt Rehab. & Healthcare Center

HILADELPHIA, PA — Roosevelt Rehabili- tation & Healthcare Center is celebrating a reno- vation milestone, marking the Phase 1 completion of a multi- million-dollar modernization at the northeast Philadelphia skilled nursing facility. Located at 7800 Bustleton Ave., the 240-bed center provides post- hospital care, short-term rehab and long-term residential care. “Roosevelt is being complete- ly transformed into a modern, home-like environment for residents – one that accom- modates progressive skilled nursing care and services,” said Danielle Koons , senior regional director of market development for Marquis Health Consulting Servic- es , which supports Roosevelt P HARRISBURG, PA — The Kislak Company, Inc. an- nounced the recent sale of Uptown Plaza, a 156,066 s/f shopping center with two pad sites at 2915 7th St. in Har- risburg, Dauphin County, for $4.6 million. Kislak marketed the prop- erty on an exclusive basis with president Robert Holland handling the assignment on behalf of the longtime owner, Town Associates, LP. Executive vice president Barry Wais- brod procured the purchas- er, America’s Realty, LLC , which is led by its president and CEO Carl Verstandig . Waisbrod said, “The pur- chaser is a retail acquisition firm focusing on markets with a predominantly middle- income demographic and properties with value-add potential. They currently own in 29 states throughout the U.S. and this was a suitable acquisition for them given their investment criteria.” Situated on 14 acres, Uptown Plaza is a 156,066 s/f shopping center with a freestanding McDonald’s and additional pad site in a quiet, residential neighborhood in the northern part of Harrisburg. It is the

suite mimics a home environ- ment with a kitchen, bedroom and bathroom – enabling pa- tients the opportunity to regain skills before returning home. Renovation highlights also include modernized dining area and lounges, as well as updates to resident rooms and nurses’ stations. The facility’s contemporary design incorpo- rates neutral tones, emanat- ing a soothing, tranquil feel. “The Roosevelt and Marquis teams are thrilled to celebrate this milestone and are excited about the plans underway in Phase 2 of this ambitious project,” added Koons. “The ongoing modernization in- cludes the addition of a new dialysis den to support Roos- evelt’s Chronic Kidney Disease (CKD) Management program.” ates pursuing a business degree with a real estate concentration; $125,000 will continue to support the Kis- lak Real Estate Institute’s Academic Challenge, an an- nual intercollegiate real estate competition; and $1 million will support the construction of a new 30,000 s/f building on the University campus to house the Bruce Springsteen Archives and Center for Amer- ican Music, related exhibition galleries, and a 230-seat, state-of-the-art theater. "We are immensely grateful for the Kislak Family Foun- dation's generous pledge and continued confidence in our mission,” said Monmouth University president Patrick Leahy . “This gift will bolster our mission to deliver an ex- ceptional education to students today, while also providing foundational support for the future of the Bruce Springsteen Archives and Center for Ameri- can Music. The foundation’s support for both scholarship funding, and for preserving and sharing the diverse tapestry of American music, resonates deeply with our institutional values of excellence, access, and social mobility."

During the renovation pro- cess, Roosevelt and Marquis have continued to enhance the center’s specialized pro- gramming in partnership with leading regional health- care providers. Physician-led offerings include Cardio Pulmonary Care. Roosevelt’s dedicated Rus- sian-speaking cultural initia- tive also distinguishes the facility, centering on a cultur- ally authentic environment for the care and comfort of seniors of Eastern European descent. With the support of a dedicated bilingual team who share their values and speak their lan- guage, residents enjoy familiar traditional décor, ethnic cuisine prepared in-house, and special cultural programming and recreational activities. MAREJ The Kislak family’s philan- thropic support and connection to Monmouth University dates back to 2006, when a transfor- mational gift helped establish the Kislak Real Estate Insti- tute as a center of excellence in teaching and research within the Leon Hess Business School at the University. The Founda- tion and University established the first credit-bearing academ- ic real estate program in New Jersey, which was one of 65 in the country at the time and is one of 100 such programs today. The Foundation’s commit- ments honor the memory of the late Jay I. Kislak, an inspiring entrepreneur, real estate pioneer, and philan- thropist. Kislak entered the family real estate business in 1945, making it his life’s work. After moving to Miami in the early 1950s, he established what would become one of the country’s largest privately held mortgage banks, origi- nating and servicing loans nationwide for more than 40 years. Until his death in 2018 at age 96, Kislak served as chairman of the Kislak Orga- nization, which today focuses on real estate investments and brokerage. MAREJ

Roosevelt Rehabilitation & Healthcare Center

and is spearheading the reno- vation. “There is nothing like it in northeast Philadelphia.” A centerpiece of the renova- tion to date is the addition of a 3,600 s/f rehab therapy gym and the incorporation of a spa-

cious activities of daily living (ADL) suite. The gym features state-of-the-art equipment, including a Smart Car and other technology to support the delivery of progressive rehab services. In addition, the ADL

Kislak sells Uptown Plaza in Harrisburg, PA for $4.6 Million

Uptown Plaza

only shopping center in the immediate vicinity. Consisting of two long strips of stores and two pad sites, the building structure is com- posed of one-story brick and block construction with glass and metal facades. Of the 30 stores in the center, many are national retailers such as H&R Block, Metro PCS, McDonald’s and Save-a-Lot with long-term tenancy at 60% occupancy at the time of sale. Repositioning and renting vacant space pro- vide a valuable opportunity to increase revenues.

David S. Sellman, Esq., of Sellman Hoff, LLC was the attorney for Verstandig and his team at America’s Realty, LLC. In other news, The Kis- lak Family Foundation has pledged an additional $2,125,000 to Monmouth University in support of the Kislak Real Estate Insti- tute and the Bruce Springs- teen Archives and Center for American Music. Of the pledge, $1 million will continue to support a need-based Kislak Family Scholarship for undergradu-

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