N orthern P ennsylvania

Real Estate Journal — Northern Pennsylvania — June 14 - 27, 2019 — 5C


M id A tlantic

On behalf of the ARCand the DCED NEPA Alliance presents loan funds to Carbondale Technology Transfer Center


The CTTC is also seeking to purchase a production quality candy kettle for the Kitchen Incubator and intends to pur- chase a 3-D printer for the Electronic Makerspace. The Kitchen Incubator is the first in Northeastern PA, and the CTTC seeks to use the Kitch- en Incubator as a catalyst to strengthen and expand the food processing and agricultural industries in Northeastern PA. The creation of the Kitchen Incubator was based on the results of a study by PennTAP. The recently opened Electron- ics Makerspace will be critical to bringing business into the facility for products that are currently being manufactured overseas. A total of eight businesses will benefit from the grant. The grant is expected to create 15 jobs and help retain over 30 jobs. The NEPA Alliance, a regional community and economic devel- opment agency, serves the seven counties of Northeastern PA.  transaction. “We are thrilled with the end result of this transaction. The collaboration between the Washington, DC area and New York City offices provided a thorough and geo- graphically broad marketing effort to secure the ultimate buyer.” Zang said. Peckville Shopping Center was the fourth shopping center that the Mid-Atlantic Investment Sales Team of Marcus & Mil- lichap has completed this year with six more in the pipeline slated to close in the next few months. Burnham, Crotts and Zang and their seven-person team attribute their success to running a comprehensive and robust marketing campaign which generated six offers and closing with the buyer that was first selected after the offering process. 

ORTHEASTERNPA — The Northeast- ern Pennsylvania

Alliance (NEPA) , on behalf of the Appalachian Regional Commission (ARC) and the PA Department of Community and Economic Development (DCED) , will present the Car- bondale Technology Transfer Center (CTTC) with a $55,000 ARC grant. NEPA Alliance, in coordina- tion with DCED’s Center for Strategic Partnerships, assist- ed in preparation of the grant and recommended the project to ARC for approval. The goal of this project was to promote business development in the advanced manufacturing, biotech research, life sciences, alternative energy, agro-food processing, digital media, and pre-fabricated housing segments. The $55,000 federal grant combined with $62,000 in matching funds, will fund ma- jor improvements at the CTTC facility including replacement of older HVAC equipment. PECKVILLE, PA — Mar- cus & Millichap announced the sale of Peckville Shopping Center, a 62,506 s/f retail property located in Peck- ville, according to Matthew Drane , regional manager of the firm’s Washington, D.C. office. The Property sold for $5.1 million. Peckville Shopping Cen- ter, constructed in 1953 and renovated in 2004, consists of a 62,506 s/f shopping center anchored by a high-perform- ing 20,045 s/f Planet Fitness supported by credit and re- gional chain retailers, notably Dollar General and one of the highest volume Wine & Spir- its locations in the Dickson City MSA. The center was 76 percent occupied at the time of sale which presented the buyer a significant opportu- nity to increase occupancy and

Shown from left: Maureen Brennan, Workforce Development Board; Paul Macknosky, DCED; John Pullo, Board Chair, CTTC; Ken Okrepkie, Ben Franklin Technology Partners; Aimee Wechsler, Senator Casey's Office; Paul Browne, CTTC; Jack McNulty, PA Department of Labor & Industry; Jeffrey Box, NEPA Al- liance; Kurt Bauman, NEPAAlliance; Colleen Eagen Gerrity, Congressman Cartwright's Office; Michele Bannon, City of Carbondale; Larry West, Senator Blake's Office; and Lisa Hall Zielinski, SBDC.

Marcus & Millichap arranges the sale of a 62,506 s/f Shopping Center in Peckville

senior associate in Marcus & Millichap’s Washington, D.C. office, and Steven Siegel , senior managing director investments, in Marcus & Millichap’s Manhattan office had the listing to market the property on behalf of the Peckville Shopping Center

add value. Christopher Burnham , vice president, in Marcus & Millichap’s Baltimore office, Dean Zang , senior managing director investments, in Mar- cus &Millichap’s Washington, D.C. office, David Crotts ,

seller, an investment bank out of New York City. The group also secured the buyer, an out-of-market syndicator that has been active in acquiring centers in the Mid-Atlantic. Sean Beuche, broker or re- cord assisted in closing this

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