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Mid Atlantic Real Estate Journal — Shopping Centers — February 28 - March 13, 2014 — 7A
www.marejournal.com
ewportNews, VA — The Greysteel Co. has arranged the sale Neuman, managing director of Greysteel represented the seller Greysteel’s retail division arranges $12.850 million sale of Newport Crossing N
Virginia Financial Services and most recently Riverside Health System, the region’s top health care provider with over 7,000 employees in more than 100 locations. Greysteel’s retail di- vision led by managing director Gil Neuman represented the seller, Harbor Group Interna- tional LLC and procured the buyer, Coastal Equities Real Estate. “Harbor Group is pleased to have added value and through Greysteel’s institutional sales process secured a quality pur- chaser,” said Jordan Slone,
Chairman of Harbor Group International LLC. “We con- gratulate Coastal Equities on their acquisition and wish them further success.” “The sellers recently added a long term leased state-of-the- art Riverside Health Systems facility and regional head- quarters,” said Neuman. “The purchasers acquired a well- entrenched center with high grocer sales, the post-recession ‘new normal’ of a solid medical co-anchor and the opportunity to add value through further leasing.” n
of Newport Crossing Shopping Center located at 419&439-467 Oriana Rd. in Newport News. The sale price was $12.85 mil- lion. Newport Crossing is a 194,000 s/f grocery anchored community shopping center that lies just off of the heavily trafficked major Warwick and Denbigh Blvd. intersection. The center is 80% occupied by a credit tenant mix including Food Lion, Dollar Tree, Citi Trends, USADiscounters, First February 28, 2014 - March 13, 2014 HI-LIGHTS
Newport Crossing Shopping Center
Marcus & Millichap D.C. office brokers $750,000 sale
Zang, Taylor & Munley of Marcus &Millichap Phila. arranges $6.6 million sale
SPOTLIGHT Top Retail Deals of 2013 7-14A
Equity Retail Brokers negotiates 9,100 s/f lease at Cedarbrook
Former Bank of America branch, D.C.
WASHINGTON, DC — Marcus & Millichap Real Estate Investment Services announced the sale of a former Bank of America branch, a 2,419 s/f retail property situ- ated on a 16,644 s/f lot located in Washington, DC. The asset sold for $750,000.
Josh Feldman and Benja- min Wilson in Marcus & Mil- lichap’s Washington, D.C. office, had the listing to market the property on behalf of the seller. The buyer, Congressional Com- mercial, LLC, was also secured and represented by Feldman and Wilson. n
Winslow Plaza
SICKLERVILLE, NJ — Marcus & Millichap Real Estate Investment Services announced the sale of Winslow Plaza, a 40,695 s/f shopping center. The asset sold for $6.61 million subject to the purchas- er’s assumption of an existing conduit loan. Dean Zang, Mark Taylor and Christopher Munley , investment specialists in Mar- cus & Millichap’s Philadelphia office, had the listing to mar- ket the property on behalf of the seller, a joint venture of RPC Real Estate and Merion Realty Partners. The buyer, Wheeler Interests was also secured and represented by the agents. Michael Fasano , broker, assisted in closing this transaction. The sale Cap rate was in
the 8% range on the forward looking year’s net operating income. n
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LMS Commercial leases 8,775 s/f in three transactions
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ALSO Business Card Directory ........ 13A Retail Brokerage Directory .18-17A www.marejournal.com
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