14A — December 21, 2012 - January 10, 2013 — Shopping Centers — Mid Atlantic Real Estate Journal


S hopping C enters



Dougherty, Zang, & Taylor rep buyer in $1.35m sale Shover & Gorman of Marcus & Millichap arrange $5.946m sale

Geotechnical Engineers & Geologists

Construction Inspection & Testing Subsurface Investigations


Retaining Wall Design

EBANON , PA — Mar- cus & Millichap Real Estate Investment

Environmental Site Assessments and Remediation

Services has arranged the sale of two separate net-leased drug- stores located in PA and MD. In Lebanon, a 13,225 s/f CVS/ pharmacy commanded a sale price of $5,946,000 and a cap rate of 6.45 percent. A 15,120 s/f Walgreens in Baltimore traded for $4,811,000 at a cap rate of 7.71 percent.  Michael Shover and Matt Gorman , both senior associates in Marcus & Millichap’s Phila- delphia office, represented the seller of the CVS/pharmacy, a developer. Marcus & Millichap also represented the Walgreens’ seller, a private investor. “Because of our marketing ef- forts, we created significant de- mand froma number of qualified investors for the CVS property,” says Shover. “Ultimately, a 1031 exchange buyer was selected.” The investor, a limited li- ability company, was secured and represented by Michael Lombardi , a senior associate in Marcus & Millichap’s New Jersey office.  The CVS/pharmacy is located at 2200 West Cumberland St. There are 22 years remaining on the lease.  “The Walgreens transaction is an excellent example of our firm’s platform and national reach,” Shover continues. “The California-based 1031 exchange HICKSVILLE, NY — W il- bur F. Breslin , president, Breslin Realty Develop- ment Corp. announces that the John Deere Dealership has opened at 400 Old Coun- try Road. The property consists of an 11,000 s/f one-story building

Clean Fill Testing

Stormwater Infiltration Testing Carbonate Site Assessments

Laboratory Soils Testing

South Jersey: 856.768.1001 Central PA: 717.697.5701

Corporate Headquarters: 610.277.0880

2200 West Cumberland St., Lebanon PA

Lehigh Valley: 610.967.4540


buyer was specifically focused on acquiring a Walgreens drug- store, and in this case, the asset was located on the other side of the country.” The investor, a personal trust, was secured and represented by Brandon Michaels , a vice president investments in Mar- cus & Millichap’s Encino, CA, office. Also providing represen- tation was Peyton Banks , an associate vice president in the firm’s Washington, DC office, is Marcus & Millichap’s broker of record in the District of Co- lumbia. Located on 2.16 acres, the Wal- greens drugstore is situated on a signalized intersection at 2310 W Patapsco Ave. in Baltimore. HOMETOWN, PA — Marcus &Millichap Real Estate Invest- ment Services announcesthe sale of Turkey Hill a 6,316 s/f net leased property located in Hometown according to Spen- located on approximately 1.1 acres. Chief Equipment, Inc. is the purchaser the Breslin orga- nization secured in a contrac- tual negotiation that resulted in the John Deere Dealership relocating to Hicksville from their former location in Free-

cer Yablon , vice president and regional manager of the firm’s Philadelphia office. The as- set commanded a sale price of $1,350,000. Michael Shover and Matthew P. Gorman, investment special- ists in Marcus & Millichap’s Philadelphia office, had the exclusive listing to market the property on behalf of the seller, a developer. The buyer, a private investor, was secured and represented by Derrick Dougherty , Dean Zang and Mark Taylor , invest- ment specialists in Marcus & Millichap’s Philadelphia office. The Turkey Hill is located at 205 Claremont Avenue in Hometown, Pennsylvania. The property was built in 2009 with an initial 15Year NNNLease.At the time of sale there were just over 12 years remaining. The property sold for $1,350,000 or a 6.5 percent capitalization rate. n port. Robert Rosenber , director of property management at Breslin Realty Development Corp. was the procuring bro- ker in connection with this transaction. The s a l e s p r i c e wa s $2,250,000. n


Cheesequake Commons; is a 35,000 sf CVS an- chored neighborhood strip center.We currently have two vacancies; a 2,500 sf in-line suite and a 3,700 sf end-cap. Ciro Pizza Café recently leased a 4,755 sf end cap and is open for business. The strip center is located ¼ mile from the Matawan Train Station, and exit #120 of the Garden State Parkway. Ideal uses include; Fitness, medical, optical, dental, travel, elec- tronics, office supplies, home improvements, florist, computer store, etc.

Rosenber of Breslin Realty Development brokers $2,250,000 sale of 11,000 s/f one-story building for John Deere Dealership


A free-standing 9,600 sf store formerly occupied by Rite Aid that features 1.38 acres, up to 69 car parking, a large pylon sign and located at the traffic light entrance to The Shoppes at Flemington lifestyle center. The site, which serves the communities of Flemington, Branch- burg, East Amwell and White House is surrounded by such well known retailers as: Burlington Coat, Kohl’s, Michaels Arts & Crafts, Bed Bath & Beyond, Marshalls, Drees Barn, Talbots, Jos.A.Bank, New York & Company, J.Jill, Laynebryant, The Childrens Place, CVS, Walgreens, Staples and Home Depot. Contact: Peter Gallicchio • pgallicchio@RemcoRealty.net

Mark Taylor Dean Zang

Christopher Munley Derrick Dougherty

Shopping Center & Net Lease Sales Specialists

Philadelphia, PA Office: 215.531.7000 Washington, D.C. Office: 202.536.3700

REMCO REALTY GROUP, LLC 1215 Livingston Ave., Suite #2 North Brunswick, NJ 08902 (732) 253-0888 x11 www.RemcoRealty.net


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