Mid Atlantic Real Estate Journal — Shopping Centers — January 31 - February 13, 2014 — C
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Feature Your Firm’s “Top Retail Deals of 2013” SHOPPING
Lombardi of Marcus & Millichap reps seller Marcus &Millichap announces $2.688m sale of 3,960 s/f
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OLTS NECK , NJ — Marcus & Mi l - lichap Real Estate
Levin Management leases 2,300 s/f to Salon 724 Michael Lombardi , senior associate, director of the Net Leased Property Group in Marcus & Millichap’s New Jersey office, represented the seller. Lombardi also secured and represented the buyer, a private investor. The absolute NNN leased bank branch sold at a 5% cap rate. n Investment Services has announced the sale of Chase Bank Ground Lease, a 3,960 s/f net-leased property lo- cated in Colts Neck, accord- ing to Ryan Nee , regional manager of the firm’s New Jersey office. The asset sold for $2,688,000. BENSALEM, PA — Salon 724 is the latest service-ori- ented tenant to join the retail mix at Centre Plaza in Ben- salem. The hair salon leased 2,300 s/f at the 43,550 s/f shopping center, announced Levin Management , Centre Plaza’s leasing and managing agent. Levin’s leasing representa- tive Jordan Korris negoti- ated the long-term lease. “Centre Plaza is a very ser- vice-oriented shopping center, making Salon 724 a perfect fit with our existing tenant roster,” said Korris. “By offer- ing a variety of salon services in a clean and friendly atmo- sphere, this tenant represents another outstanding option for Centre Plaza shoppers as well as the local community.” Centre Plaza’s retail, res- taurant and service-oriented tenants include Curves for Women, Domino’s Pizza, Lab- Corp, MGM Financial Strate- gies Inc., First Federal Sav- ings & Loan, A&S Bagels and Tako Japanese Restaurant. Centre Plaza serves a grow- ing residential population of almost 270,000 people within a five-mile radius. Centre Plaza is ideally posi- tioned just one mile from the Pennsylvania Turnpike. n Centre Plaza
Chase Bank
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