8A — May 25 - June 7, 2018 — Shopping Centers — M id A tlantic
Real Estate Journal
S hopping C enters
icklerville, NJ — Richard L. Soloff of Soloff Realty & De- MSC Retail represent buyer in $4.5 million NJ sale Soloff Realty & Development announces sale of 19 AC. to Aldi S
For acquisition of renovated Neptune plaza Progress Capital’s Domenico secures $2.775M mortgage
lit intersection in the growing Sicklerville Trade Area. The other three corners at the intersection are tenanted by a Target/Lowes anchored center, ShopRite Market anchored center and an Acme Market anchored center. MSC Retail represented ALDI, Inc. in the transaction. In Philadelphia, PA&PIZZA recently signed a 10-year lease valued at over $1.5 million in the densely populated Uni- versity City area. This space is strategically located on the ground floor of The Radian Student Housing Apartment
Building at 3925 Walnut St. and is in easy walking distance to the University of Pennsyl- vania’s Campus. &Pizza will join CVS Pharmacy, Sweet Green, Jimmy John’s, City Tap House, Bobby’s Burger Palace and Chipotle Mexican Grill. Richard Soloff of SRD repre- sented the tenant in this leas- ing transaction, and Jackie Balin of CBRE represented the landlord, The Scion Group, LLC of Chicago, IL. The re- start is currently under con- struction, opening late Sum- mer 2018.
velopment, Inc. (SRD) h a s c o n - f i rmed the p u r c h a s e of a 19 acre commercially zoned prop- erty by ALDI, Inc. at the in-
36 State Rte. 35 in Neptune
NEPTUNE, NJ — Brad Domenico , partner at Prog- ress Capital , secured a $2.775 million non-recourse perma- nent mortgage for the acqui- sition of the retail strip plaza located at 36 State Rte. 35 in Neptune. The subject property is a newly renovated 18,150 s/f retail shopping plaza at the
former Wonderbread / Hostess Regional Bakery and Outlet. The plaza was 100% occupied
and anchored by an 8,900 s / f Fami l y Dollar at the time of acqui- sition. Domenico negotiated a 30 year term with 30 year
tersection of Berlin, Cross Keys Rd. and Chews Landing Rd. in Sicklerville. The trans- action valued at $4.5 million, is situated at a prime traffic-
amortization and an initial 5 year fixed rate period at 4.25%. The borrower will adhere to a declining pre-pay schedule. This loan represents 65% of the borrower’s acquisition cost. NAIMertz inks land sale for Lukoil Bucks County, PA — NAI Mertz announced the recent land sale of 305 East
Poten al Outdoor SalesArea
21,249 SF 26,167 SF 26,167 SF 21,042 SF
AVAILABLE 10,866 SF
Cross easement access withKohl’s and Home Depot
Street Rd. in Feasterville- Trevose. The s a l e w a s inked by NAI Me r t z v i c e p r e s i d e n t s Zena Cha- rokopos and Ri ck Gor - don who rep- resented the seller, Lukoil. Th e b u y e r was Republic Bank. “This is an excellent op- portunity in a busy retail
TOLLHOUSE PLAZA – Mantua, NJ ANCHOR & JUNIOR ANCHOR UP TO 94,500 SF AVAILABLE!
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come together. Amidst chang- ing real estate markets, a focus on collaboration and commu- nity is vital – and Union Col- lective and Earth Treks are at the forefront of this shift. Robert Cohen is CEO of Earth Treks Planet Granite. continued from page 6A The benefits of blending tenants . . . corridor for Republic Bank,” stated Charokopos. “We are pleased to have represented our client in this transaction and to also bring a quality tenant to this popular area of Bucks County,” added Gordon.
PROVIDENCE VILLAGE – Aldan, PA JUNIOR ANCHOR SPACE AVAILABLE!
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Richard Soloff - Richard@soloffdevelopment.com David Dunkelman - David@soloffretail.com Call Today! Telephone: 610-834-0400
One Presidential Blvd, Suite 202 Bala Cynwyd, PA 19004
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