S HOPPING C ENTERS
Section B of the Mid Atlantic Real Estate Journal
EWYORK, NY — Katz Properties of New York has acquired the CBRE’s Angelone, Moylan & Heald rep both Katz Properties & the seller Katz Properties acquires 81,000 s/f Fairhaven Plaza Shopping Center for $16.5M N 12,475 s/f Ace Hardware and a 4,000 s/f Sleepy’s.
price of $2,950,000 or $482 psf. Nathanson had the listing to market the property on behalf of the seller. The buyer was secured and represented by Kevin Lim- bert , in Marcus & Millichap’s St. Louis office. The sale of a 9,908 s/f Strip Center, tenanted by Buffalo Wild Wings and Cross Keys Urgent Care, at 611 Cross Keys Road in Sicklerville, NJ. The asset com- manded a sale price of $3,750,000 or $378 psf. Nathanson, had the listing to market the property on behalf of the seller. The buyer was secured and represented by Michael Lombardi , Brian Mucerino and Maz Radwan , in Marcus &Millichap’s NJ office. Michael Fasano , broker, assisted in closing this transaction. ■ Mortgage financing for Fairhaven Plaza was pro- vided by Member’s Capital of Madison, Wisconsin and was arranged by Tim Breda of Goedecke & Co. CBRE’s National Retail Investment Group , led by Chris Ange- lone , Bill Moylan and Nat Heald , represented both Katz Properties and the seller in the transaction. Leasing and property management services will be provided by Winslow Property Management . ■
Daniel Katz , a principal of Katz Properties said, “With our management team based in Massachusetts, Fairhaven Plaza was a natural buy for us. We remain committed to the New England market and are primed to acquire more shopping centers with market- leading grocers. This is our sixth acquisition in 2012 and we are working on several oth- ers before year end.”
Fairhaven Plaza shopping center in Fairhaven, MA for $16,500,000. The 81,000 s/f supermarket anchored shop- ping center, built in 1999, is situated on 9.4 acres located at 221 Huttleston Ave. (Route 6), approximately 1 mile from I- 195 and 60 miles from Boston. Fairhaven Plaza is 97% occu- pied by a 59,000 s/f Stop & Shop supermarket and gas station, a
Fairhaven Plaza
Fallon of Calkain Cos. secures buyer in $5.05M transaction Nathanson of Marcus & Millichap reps buyer & seller in $13.5M sale
NOVEMBER 23 - DECEMBER 6, 2012
HI-LIGHTS
BURLINGTON, N J — Mar- cus &MillichapReal Estate In- vestment Services has brokered the sale of Town Crossing Shop- ping Center, a 91,494 s/f power center, located at 2703 Rte. 541. The sale price was $13,550,000 or $148 psf. Brad Nathanson , a senior director in the Philadelphia office of Marcus &Millichap’s National Retail Group (NRG) , represent- ed the seller, J.SHovnanian and Sons , and the buyer, Hampshire Real Estate Cos. In addition Nathanson recently concluded 3 other retail transac- tions totaling $11.75M in NJ to include: The sale of aWawa Convenience Market with Gas, in North Wild- wood, NJ. The asset commanded a
Calkain Cos. brokers $3.7M sale of Tractor Supply Co.
Ca lka in Compani es recently brokered the sale of an absolute triple net investment property in Brockport, NY. See page 7B.
Town Crossing Shopping Center sale price of $5,050,000. Nathan- son had the listing to market the property on behalf of the seller. The buyer, a MD based 1031 buy- er, was secured and represented by Andrew Fallon , assistant vice president with Calkain Companies . The sale of AdvanceAuto Parts, a 6,120 s/f net leased property at 445 Terrill Rd. in Scotch Plains, NJ. The asset commanded a sale
DLC Management Corp. signs 38,843 s/f lease with PriceRite
D L C M a n a g e m e n t Corporation announces a new lease signed with Pric- eRite which is awholly-owned subsidiary of Wakefern Food
Corporation. See page 9B.
Shopping Centers featuring NY ICSC Conference
7HEN YOU THINK REAL ESTATE THINK -ADISON
ALSO INSIDE:
s 4ITLE )NSURANCE s #LOSINGS s %XCHANGES s ,EASE !BSTRACTS
s &INANCIAL $UE $ILIGENCE s !RGUS 2EPORTS s #!- !NALYSIS s #OST 3EGREGATION 3TUDIES
P EOPLE & C OMPANY N EWS ...............................................14B B USINESS C ARD D IRECTORY ..............................................15B ICSC O RGANIZATION P AGE ..............................................18B B ROKERAGE D IRECTORY ....................................................19B
www.marejournal.com
. -!$)3/. s WWWMADISONCRESCOM
Made with FlippingBook - Online magazine maker