4B — November 23 - December 6, 2012 — Shopping Centers — Mid Atlantic Real Estate Journal
www.marejournal.com
S HOPPING C ENTERS
Sgambati, A. Cafiero & D. Cafiero rep the seller & buyer Marcus & Millichap’s NJ Office completes $6.75M sale
P
ERTH AMBOY, NJ — Marcus &Millichap Real Estate Invest-
David Tesler, Real Diligence, LLC
ment Services has announced the sale of The Shoppes at Vic- tory Village, a 32,349 s/f mixed- use property located in Perth Amboy, according to Michael J. Fasano, vice president/regional manager of the firm’s New Jer- sey office. The asset commanded a sale price of $6,750,000. Ben Sgambati , vice presi- dent investments, together with Alan Cafiero , senior associate and David Cafiero , invest- ment specialist in Marcus & Millichap’s New Jersey office, had the listing to market the property on behalf of the seller,
The Shoppes at Victory Village
a regional developer. They also secured the buyer, a local part- nership. The Shoppes at Victory Vil- lage is located at 553-559 Sayre Avenue, in the area with dense
population and high traffic counts. It is a mixed-use property with 15 large apartments with high end finishes and 18,000 +/- s/f of retail space. Four of the five retail units are currently occupied by a mix of national and local tenants including 7-Eleven, Dollar General, and Popeye’s. Moreover, the site con- tains 78 parking spaces, some of which are reserved for the apartment tenants in a separate rear area where the apartments’ entrance is located. The major- ity of the spaces serve the retail stores. ■ VINELAND, NJ — Initial plans for a proposed major sports complex and destination resort were submitted to the Vineland, NJ, zoning board for review prior to their November 28 th regularly scheduled meeting. The proposal was submitted by Magic Sports Complex of NJ, and its master developer, Sora Northeast De- velopment , of Sewell, NJ. The developers announced the initial details of the proposed project at a press conference held at the Vineland City Hall. The Magic Sports Complex is a privately-funded plan to build a large state-of-the-art indoor/out- door facility that will offer a host of sports related and recreational activities and special events in Vineland. Arecent Vineland land purchase is under agreement with South Jersey Industries’ Energy and Minerals, Inc. for 248.6 acres, with an additional adjacent 40 acres under agree- ment with local resident Jay Morie. The proposed plan for the complex is for it to be built in two phases from 2013 through 2015, creating hundreds of permanent jobs as each phase is completed, as well as 200-400 temporary construction jobs. ■ Sora Northeast Dev. submit initial plans for Magic Sports Complex
· Pad Sites Available for Purchase & In-Line Space for Lease · Over 26,000 SF of Retail Space Available, divisible to 880 SF · Over 11,000 SF of Office Space Available · 1/2 Mile west of Route 33 · Signalized Entrance with 18,000 vehicles per day · Over 46,000 population within 3 mile radius · For sale/Lease Rates : Contact Greg Schiavone, Broker Contact information: gschiavone@alt-realty.net - 610. 428.3484 William Penn Commons - New Retail/Office Space
7065 William Penn Highway , Easton, PA 18045
Main Street Commons
· Retail and Office Suites Available · 60,127 SF, 3 story, building located in the Heart of Downtown Bethlehem · This one hundred seventy-six year old building was formerly home to Orr’s Department Store · Now home to the Valley’s favorite specialty retailers and restaurants · Easy Access to Routes 378, 22, and 33
· For Lease Rates: Contact Jennifer Gold, Associate Contact Information: jgold@alt-realty.net - 610.570.0095
559 Main Street, Bethlehem, PA 18017
The Farrs Building
· Adaptive re-use of a 5-story, 30,000 SF building · 5,495 SF of street level retail available on first floor with an additional 2,345 SF available · Twenty four units on upper floors · 1920s neoclassic building, located at the Northwest corner of Broad and New Street, in Bethlehem
· For Lease Rates: Contact Jennifer Gold, Associate Contact Information: jgold@alt-realty.net - 610.570.0095
2 West Broad Street, Bethlehem, PA 18018
610.332.9900 Residential Commercial Retail Relationships Versatility www.alt-realty.net
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