2C — September 27 - October 10, 2013 — Shopping Centers — Mid Atlantic Real Estate Journal
www.marejournal.com
S Hopping c enteRS
Cooperating Across the Office a n d A c r o s s N o r t h Ame r i c a
HILLIPSBURG, nJ —According to nation- al Realty & Develop- Construction commences on Pohatcong Plaza II nRDC leases over 9,000 s/f at Pohatcong Plaza in nJ P
Providing comprehensive retail real estate services in,
PENNSYLVANIA, NEW JERSEY DELAWARE &
Tenant Representation Tenants’ interests come first. It‘s that simple. And for that reason, national chains and regional merchants continue to trust us to help them expand and roll out new stores. Leasing We are leasing experts because we take the time to understand the owners as well as the properties themselves. Landlords of all sizes - from individuals to large REITs - trust us to do so. Teamwork makes us different. Teamwork gets results. We are a team of agents with one goal - to satisfy our clients. By sharing market information and contacts, we work together to make the best deals possible. Investment Sales The investment sales team has the experience and know-how to help ensure a smooth and timely closing, resulting in a win-win for all parties.
Investment Sales
Leasing Services
ment Corp., three new deals have been signed totaling over 98,000 s/f at Pohatcong Plaza in Phillipsburg. Pohatcong Plaza is a 562,000 s/f power- center located at the intersec- tion of Route 22 and Greenwich Road, 1/2 of a mile northwest of Interstate-78 off of Exit 3. Hobby Lobby, Marshall’s, and Home Goods will join the center ’s impressive tenant roster occupying a redeveloped state-of-the-art building where Walmart operated before ex- panding to a Supercenter early last year to NRDC’s adjoining Pohatcong Plaza II shopping center. Construction has com- menced and the new tenants will open spring 2014. “Pohatcong Plaza is the per-
Tenant Representation
Property Management
PUT OUR TEAM TO WORK FOR YOU! CALL 610.645.7700 101 West Elm Street, Suite 370 | Conshohocken | Pennsylvania 19428 | www.equityretailbrokers.com MEMBER OF THE RETAIL BROKERS NETWORK, retail real estate powerhouse of over 75 independent offices in North America Puerto Rico &
Pohatcong Plaza in Phillipsburg
fect location for these national highly-recognized brands,” said John Orrico, President of NRDC. “The shopping center has transformed into a dy- namic retail destination and
it is vital to ensure that the tenant mix reflects that energy. We strive to create a unique shopping environment while fulfilling the retail needs of the community.” n
Calkain Companies arranges $1.2 million sale of Chase Bank ground lease
RESTOn, VA — Andrew Fallon and Jon Florin , assis- tant vice presidents at Calkain
ground lease in Streetsboro, OH. The private investor, a frequent Calkain client, was drawn to the low price point and stable investment that the Chase Bank ground lease offered. The property closed within the last 30 days for a price of $1.26 million. Fallon said, “My client was seeking credit and segment diversification within in his
portfolio which includes CVS, RiteAid, and now Chase Bank. The subject property offers stable income from an invest- ment grade A+ credit tenant.” Fallon continued, “In the low interest rate and compressed cap rate environment, it was critical that we identified an opportunity with structured rent increases to help hedge re- finance risk and inflation.” n
Companies , a n a t i o n a l r ea l e s t a t e i nve s tmen t b r o k e r a g e firm, recently arranged the purchase of a Chase Bank c o r p o r a t e
Andrew Fallon
SCRAnTOn, PA – nAI Summit’s John Crampsie recently represented the owner, EGC – Luzerne, L.P., in the lease renewal of 14,000 s/f retail space to RiteAid in the Luzerne Plaza Shopping Center located nAI Summit represents owner in 14,000 s/f lease transaction at 609 Luzerne St. Rite Aid is the largest drug- store chain on the East Coast and the third-largest in the United States, employing roughly 89,000 associates. With approximately 4,600 stores in 31 states and the District of Columbia, they are very prominent on the east and west coast. NAI Summit handles the leasing and management at Luzerne Plaza. n Gl oba l Access , Loca l Touch Lehigh Va l l ey and Sur rounding Areas N A I S u m m i t k n o w s E a s t e r n P e n n s y l v a n i a , i t s p r o p e r t i e s , p e o p l e a n d m a r k e t .
Environmental & Geotechnical Engineers & Consultants
Complete. Integrated. Service.
PENNSYLVANIA 1600 Manor Drive, Suite 220 Chalfont, Pennsylvania 18914 215.712.2700
NEW JERSEY 35 Technology Drive Warren, New Jersey 07059 908.668.7777
3435 Winchester Rd, Ste 300 Allentown, PA 18104
www.whitestoneassoc.com Serving the Northeastern United States
610 264 0200 naisummit.com
• Sales/Leasing • Investment Sales • Property & Asset Mgmt • Building Ser vices • Project Mgmt • Corporate Ser vices •
Made with FlippingBook flipbook maker