24B — September 28 - October 11, 2018 — Shopping Centers — M id A tlantic
Real Estate Journal
www.marejournal.com
S hopping C enters
ORK, PA — ROCK Commercial Real Es- tate , one of the indus- Chiaro represents landlord in pad site lease in Etters, PA ROCK's Reed & Birkeland complete sale totaling $475k Y $475,000. Damian Reed and John Birkeland , of ROCK Commercial Real Estate, rep-
Kostelac of Campbell Commercial RE executes sale in Wormleysburg
WORMLEYSBURG, PA — Campbell Commercial Real Estate completes the sale of
delivery would lower Amazon’s overhead cost to $1.00 per de- livery, compared to the current $5.00+ that Amazon pays now. If Amazon cut its delivery costs to 1/5th of the current level, it would allow the company to further disrupt the brick-and- mortar retail industry. Chris also touched on other tech- nologies: 3D printing (Additive Manufacturing), Virtual Real- ity, and Autonomous Vehicles. The data seems to show that these advanced technologies are going to shape the industry in the future, but no one seems to know when or how much they will impact it. Overall, I learned that some technological advancements will fuel growth in the indus- try and some will disrupt the industry. It is a good idea to begin planning how you can leverage these technologies to your advantage. As retail real estate professionals, we have to be ready to adapt to a constantly changing environ- ment, or risk becoming obso- lete. – Alexander Dawejko. Metro Commercial is a full-service independent commercial real estate firm fueled by local expertise and national capabilities. ping habits continue to evolve, shopping centers will need to grow with them. It is the owner and developer’s responsibility to incorporate a mix of uses and businesses in their prop- erties to ensure local shoppers continue to see their commu- nity shopping centers as go-to destinations. RD Management owns 63 retail, mixed-use, vacant land, office, hospitality, and self-stor- age properties throughout the Northeast and has more than 150 properties in its national portfolio. Richard Birdoff is prin- cipal and president of RD Management. Hartman Service Center leases the commercial building and lot at 1001 Hummel Ave., Lemoyne. Hartman Service Center will use the facility as a towing and auto repair location. Kostelac represented both the landlord and the tenant in the transaction. Commercial Real Estate repre- sented the seller in the trans- action. Andy Kohr of Land- mark Commercial Realty, Inc. represented the buyer in the transaction.
950 N. Front St. in Worm- l e y s b u r g . The current car wash will be redevel- oped into a b r a n d - n ew state of the art car wash.
transaction. • York Method Strength & Performance, LLC leased 2,545 s/f of retail space at 2101 Industrial Hwy. in York (Springettsbury Township) from DGR Partners, LP. Ted Turnbull , of ROCK Commer- cial Real Estate, brokered the transaction. • G&S Remodelers LLC leased 2,730 s/fof retail space at Newberry Commons in Etters, PA (Newberry Town- ship) from VH Newberry, LLP. Chiaro brokered the transaction. programs while contributing to the region’s recycling efforts. Hemo and Michael Shaw, COO of Goodwill Industries of Southern NJ & Philadelphia, worked closely with Tony Didio of Colliers Interna- tional , who represented the landlord. “At Vantage RES we believe that collaborating with brokers helps us get bet- ter results for our clients, Tony was instrumental in getting this deal to the finish line,” Says Hemo. “We know that Michael Shaw and Goodwill are very excited to enter this new market and continuing to grow. We were very happy to find the right retail space to help them do that.”
try leaders in South Cen- tral Pennsyl- vania, recent- ly completed the following transactions: • I-Deal Cars H o l d i n g s purchased a
resented the seller in the transaction. • P l a n e t Fitness leased pad sites at N e w b e r r y Commons in Etters (New- berry Town-
Larry Kostelac
by 1852 Capital Management. Larry Kostelac of Campbell
continued from page 2B By Richard Birdoff, RD Management
Damian Reed
John Birkeland
commercial property at 925 Carlisle Rd. in York (West Manchester Township) from Reich Acquisition One LP for
ship) from VH Newberry, LLP. Benjamin Chiaro , of ROCK Commercial Real Estate, rep- resented the landlord in the
operating a brick and mortar store, maintaining an online internet presence and promot- ing brand awareness through social media platforms. No- table retail tenants that have found success through the use of omni-channel commerce in- clude Disney, Bank of America, REI, Starbucks, and Chipotle, just to name a few. – Michelle Langborgh View on CRE Technology Since I joined the Metro team this past May, I have found ICSC’s research to be extremely valuable. ICSC’s detailed reports are packed with information that has helped bring me up to speed on the Retail Real Estate Industry as a whole. Fortu- nately, I was able to attend a presentation by ICSC’s Director of Research, Chris Gerlach, on the first day of the conference. Chris touched on many top- ics having to do with retail real estate, but I found his insights on technology to be the most striking. He discussed how the 800-pound gorilla of E-Commerce, Amazon.com, has been experimenting with drone-delivery. Drone-based Crossing in Milford has been buzzing with activity since its redevelopment was announced last year. RD Management signed leases with Pacific Den- tal Services and Cyclebar, two strong tenants that will add to the success of the center and provide exceptional offerings in health and wellness to the Milford community. The 3,240 s/f Pacific Dental Services and 2,560 s/f CycleBar will join existing retailers Stop & Shop, T.J.Maxx, HomeGoods, Starbucks, and Chipotle at the center and are expected to open in fall 2018. As retail and consumer shop-
Hemo of Vantage RES secures new location in Sewell, NJ for Goodwill Industries of Southern NJ & Philadelphia
tomer convenience, the space will also include a donation drop off center. Goodwi l l Indus t r i es o f Southern NJ & Philadelphia is a nonprofit, community-based organization. Its mission is to provide job training and career services that help prepare in- dividuals with disabilities and disadvantages for competitive employment in the commu- nity. This includes Goodwill’s Helms Academy which offers a tuition free way for adults 18 and over to earn their high school diploma while earning college credits. The large scale collection and resale of do- nated items in Goodwill’s retail stores fund these important
SEWELL, NJ — Vantage Real Estate Services an- nounced the closing of another
s u c c e s s f u l l arge - sca l e lease. As the leasing rep- resentative for Goodwill I ndu s t r i e s of Southern New Jersey and Philadel-
Leor Hemo
continued from page 3B Take-Aways from the ICSC Philadelphia Retail Deal-Making Conference . . .
phia, Leor Hemo of Vantage RES worked closely with the client to secure a long-term lease at 483 Hurffville - Cross Keys Rd. in Sewell. The mod- ern, 15,750 s/f store will have ample space to support the company’s mission. For cus- BEAR, DE — LA Fitness, recognized as among the fast- est-growing health club chains in the United States with more than 700 locations, has opened a new 34,000 s/f sports club within Eden Square Shopping Center in Bear. Located at 100 Eden Circle, the 230,000 s/f shopping center, owned and managed by a joint venture between affiliates of MCBReal Estate and Acadia Strategic Opportunity Fund IV LLC , is now 90% leased. The center is anchored by Giant Food, LA Fitness and Gabe’s (formerly Gabriel Brother’s). The facility offers a full com- plement of fitness and exercise opportunities including an in- door swimming pool, full-court basketball gym, racquetballs courts. “A high-quality exercise and fitness experience is among the last things that cannot be accessed on the Internet
MCB Real Estate and Acadia Strategic Opportunity Fund IV LLC announce opening of 34,000 s/f LA Fitness sports club
LA Fitness
and, in LA Fitness, we have attracted among the largest and most respected operators in the country to Eden Square Shopping Center,” said Dan Shabel , portfolio manager for MCB Real Estate. “The concept provides many consumer touch- points across the spectrum of
age demographics, from young people to senior citizens as well as expecting mothers. Club members participate at LA Fitness throughout all dayp- arts, which provides consistent opportunities to our other ten- ants to receive consumer traffic before or after a work-out.”
Made with FlippingBook - Online Brochure Maker