S hopping C enters N ew J ersey /P en sylvania

M id A tlantic Real Estate Journal — New Jersey/Pennsylvania — Section B


Schechtman, Kassin & Benharouch of Meridian Capital represent seller Centerpoint strengthens NY-area Last-Mile Portfolio with acquisition of 7.8-acre property

ARLSTADT, NJ — CenterPoint has ac- quired 130 Moonachie Ave. in Carlstadt, a prime last- mile site in the Meadowlands submarket of Northern New Jersey. The 7.8-acre property is one of the lowest coverage sites in a submarket where delivery facilities with excess parking are in high demand. The Meadowlands submar- ket has historically been uti- lized as the predominant loca- tion to service New York City, with the additional capability to service the Port of New York and New Jersey. The proxim- C HI-LIGHTS JAN. 22 - FEB. 18, 2021

real estate inventory is strug- gling to keep up with the increased demand from retail- ers and logistics companies to lease modern, functional space within close proximity to the nation’s number one consumer market. “We’re extremely proud of the portfolio that we’ve assem- bled in the New Jersey/New York market over the past five years,” said David Nenner , CenterPoint senior vice presi- dent of asset management. “Tenants and brokers can look at our track record and easily identify our strategy: to acquire low-coverage sites with excess parking in the best submarkets across the country,” Nenner finished. David Schechtman, Abie Kassin and David Benha- rouch of Meridian Capital out of New York City repre- sented the seller. MAREJ 4750 Westport Dr. in Mechan- icsburg for the storage and distribution of video gaming machines. The Bill Gladstone Group of NAI CIR facilitated the transaction. GP Real Estate LLC pur - chased 4.38+/- acres located in Loudon Centre on Gettysburg Road in Mechanicsburg. It will be the future home of PaulB Hardware. The business has been serving farmers, contrac- tors, and homeowners since 1947. They sell an assortment of products including power tools, plumbing and HVAC equipment, paint supplies, lawn and garden supplies and more. The Bill Gladstone Group of NAI CIR handled the transaction. R.F. Fager Company pur- chased 14.92+/- acres in Me- chanicsburg. The use will eventually be for warehousing their inventory of products. The Bill Gladstone Group of NAI CIR represented the seller and Garrett Roth- man of RSR represented the buyer. MAREJ

130 Moonachie Ave.

ity to thoroughfares such as the New Jersey Tpke., Rte. 80, Rte. 17 and Rte. 3 provide access to the major arteries that service the greater Tri- State Area. “It’s exciting to find an in - vestment opportunity that meets our strategy in a sub- market like the Meadowlands, which is one of the premier

submarkets in the country but has a high percentage of institutional ownership,” said Evan Lippow , Center- Point vice president of invest- ments. “The Meadowlands is predominantly comprised of higher coverage product that is older and functionally chal- lenged. At 130 Moonachie, the rectangular configura-

tion, entitlement and location create a perfect opportunity to meet the modern wave of demand fromhigh-throughput and last-mile tenants,” Lippow concluded. The Meadowlands continues to see low vacancy rates as e-commerce demands show no sign of plateauing for the foreseeable future. Industrial

Alderman of NAI CIR brokers 79,193 s/f office building sold in Cumberland County, PA



LEMOYNE, PA — NAI CIR announced the following trans- actions throughout PA: The 79,193 s/f office building, located at 5095 Ritter Rd. in Rossmoyne Business Center in Mechanicsburg, has been sold. The buyer is an invest- ment firm and they have two units available to lease. Dan- iel Alderman , of NAI CIR, represented the seller and Jason Grace , of Landmark , represented the buyer. Pennsy Supply Inc. has leased office space for use by PennDOT as they provide supervision on a construction project that was awarded to Pennsy Supply. The Bill Glad- stone Group of NAI CIR facilitated the transaction. Erika Malorzo of CommU- nity Yoga leased a small retail space in the City of Harrisburg. It will be utilized as a yoga stu- dio offering classes for all levels of fitness. The Bill Gladstone Group of NAI CIR handled the transaction. DJAM Property, LLC pur- chased this 6,900+/- s/f retail




5095 Ritter Rd. in Rossmoyne Business Center in Mechanicsburg

strip center located at 2719- 2725 Agate St. in uptown Har- risburg. The purchase includes the four business storefronts that are in the center, includ- ing the laundromat business also purchased by DJAM. The Bill Gladstone Group of NAI CIR handled the transaction. Active Integrated Medical Center has leased medical of- fice space at 555 East Choco - late Ave., in Hershey PA. They have leased the space from 555 East Chocolate Avenue, LP. John Foley , of NAI CIR, represented the landlord. Webster Investment Group,

LLC purchased this 3166+/- s/f multi-family investment property located at 55 E. Main St. in Mechanicsburg. The Bill Gladstone Group of NAI CIR represented the seller and Naomi Brown with Rock Commercial Real Estate represented the buyer. The 540 s/f office suite lo - cated at 3327 Derry St. in Harrisburg has been leased from Jack 1996 LLC. Amber Corbo , of NAI CIR, repre- sented the landlord. JK Group of Companies, LLC leased 2,950 s/f of ware- house space located at 4700-




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