P ennsylvania

S hopping C enters

Real Estate Journal — Pennsylvania — Section C

Of portfolio of office, retail & parking facilities in Phila. Greenberg Traurig supports joint- venture acquiring controlling stake P www.marejournal.com HILADELPHIA, PA — Greenberg Trau- rig represented a

M id A tlantic

Capital Commercial RE Grp. brokers $8.25msale

HI-LIGHTS MARCH 11 -24, 2016 joint-venture led by MRP Realty in their acquisition of a controlling interest of the owners of a portfolio of office, retail and parking facilities in the Old City neighborhood of Center City. The portfolio includes the Bourse building, a beauti- ful historic office and re- tail building which used to be Philadelphia’s original trading floor, as well as the adjacent Bourse Garage and movie theater, and the 325 Chestnut St. and 400 Mar-

496 Lancaster Ave.

BERWYN, PA — Capital Commercial Real Estate Group, Inc is proud to an- nounce the sale of The Tesla Auto Dea l ership l o c a t e d a t 450-496 Lan- caster Ave. in Berwyn, PA. Chris Yangello PHILADELPHIA, PA — CBRE Group, Inc. (CBRE) announced that the team of Michael Shover and Mat- thewGorman have brokered the sales of thirteen properties in the first sixty days of 2016, totaling $26,673,150. In all thirteen transactions, CBRE represented the sellers. The thirteen properties in- clude two Rite Aid’s located in Monroeville, PA and Creed- moor, NC; two Family Dollar Store’s in Alliance, NC and Hookerton, NC; a Burger King and Applebee’s both located in Warren, PA; a Pizza Hut in Duncansville, PA; Out- back Steakhouse in Jack- sonville Beach, FL; Goodwill Industries in Huntington, PA; Chick-fil-A in Harrisburg; and three Sheetz locations in Eb- ensburg, PA, Burlington, NC and Altoona, PA. “We continue to see strong national demand for net lease real estate from the buyer pool,” said Shover. “Based on our advice and our client’s opinions of the market, a num- ber of them have decided that it’s the right time to sell their net lease holdings as we are at or very close to a peak in the market,” added Gorman. Gorman and Shover ( NLPG Philadelphia ) lead CBRE’s Mid-Atlantic net-lease team, specializing in the marketing and sale of single and multi- tenant net-lease investment

Chris Yangello facilitated the transaction between the seller and the buyer. The Dealership sold for $8.25 million with a NOI of $630,000.00, Cap Rate 7.64%, ten year lease with Four/ Five Year Options w/a 10% increase. The Property sits on 4.16 acres located on Phila- delphia’s Main Line Highly Desirable Rte. 30 Corridor. n

The Bourse

CBRE inks 13 property sales in the 1st 60 days of 2016

ket St. office buildings. The transaction was led by Real Estate Shareholders Mi- chael Baum of Greenberg Traurig’s Chicago office and Joshua Cohen in Philadel-

phia and were supported by Robert Goldich (Labor & Employment), Rachel Kip- nes (Real Estate) and Mi- chael Suleta (Real Estate) in the Philadelphia office. n

Project of the Month

Oxford’s Hot Metal Flats receives LEED Gold Cert.

real estate. In their ten-year history, the team has sold more than $1 billion in net lease properties nationwide. BETHLEHEM, PA — CBRE announced that Jody King , VP, brokerage, has been elected the board president for the Volunteer Center of the Lehigh Valley. In 2015 alone, the Volun- teer Center linked more than 22,000 volunteers with agen- cies, businesses, schools and universities all across the Lehigh Valley. “Jody brings great energy and enthusiasm to our Board. She has made a significant impact on expanding our brand in the business sector and is currently working to further develop our Board”, said Karen Daly Smith, VP of Programs for the Volunteer Center. This is King’s seventh year serving on the Board and her first year as president. “I enjoy being a part of an organization that matches vol- unteers and companies in the Lehigh Valley with nonprofit agencies,” said Jody King. n Michael Shover MatthewGorman

Department of Veteran Affairs


Landmark Commercial Realty/TCN Worldwide inks 128,002 s/f lease renewal & expansion

Hot Metal Flats

a great project team we were able to exceed our certification expectations for this project and provide residents with a safe, healthy dwelling in a fun and active neighborhood.” Hot Metal Flats achieved LEED certification for imple- menting practical andmeasur- able strategies and solutions aimed at achieving high per- formance in: sustainable site development, water savings, energy efficiency, materials selection and indoor environ- mental quality. n

PITTSBURGH, PA — Ox- ford Development Compa- ny and its partners announce that the 117-unit Hot Metal Flats apartment complex in the South Side Works develop- ment in the City of Pittsburgh has received LEED Gold cer- tification. “Our philosophy with mul- tifamily projects is to cre- ate sustainable communities with their own individual identities,” said Steve Guy , president and CEO, Oxford Development Company. “With





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