S hopping C enters
Real Estate Journal — Shopping Centers — April 25 - May15, 2014 — Section C
www.marejournal.com
M id A tlantic
Retail investment sale acquired by The Klein Group Nathanson of CBRE sells Fairless Hills Shopping Center for $9.5 million In Bucks County, PA B area is the second largest retail submarket in the Philadelphia suburbs.
developer since its construction in 1971, was 100% leased at the time of sale. Additional retail tenants included Retro Fitness, Tuesday Morning and Family Dollar. Pathmark, currently oc- cupying 65,068 s/f has been the anchor tenant at Fairless Hills Shopping Center since 1994. The property is well-located on Lincoln Highway (US-1 Business Rte.), providing ex- cellent local and regional ac- cess. Oxford Valley, less than three miles from Fairless Hills Shopping Center, consists of 3.4 million s/f of retail space. Rang- ing from community grocery and regional power centers to Oxford Valley Mall, the larg- est mall in Bucks County, the
ucks County, PA — CBRE, Inc. (CBRE) announced the sale of Fairless Hills Shopping Center located at 500 Lincoln High- way in Fairless Hills, Bucks County. CBRE represented the seller, Earle W. Kazis Associ- ates, Inc. , a real estate holding company based in New York City. The transaction was led by Brad Nathanson , execu- tive vice president. T he Klein Group of Florham Park, New Jersey, acquired the property for $9,500,000 or $50.13 psf. Fairless Hills Shopping Cen-
“Fairless Hills Shopping Center has tremendous upside in enhancing the aesthetics as well as the tenancy given the location in the second largest retail submarket in the Phila- delphia suburbs,” said Nathan- son. “Fairless Hills Shopping Center is one of the oldest retail centers in the market. Most of these vintage shopping centers within the MSA were re-developed over the last ten years. However, this one was missed, creating much demand regionally for the value-add opportunity presented as it traded for the first time.” n have arranged long term leases totaling 10,614 s/f with an aggregate value in excess of $3 million with Zagat’s highly rated LouCas Ital- ian Seafood Restaurant and Meemah Chinese Restaurant, Lingerie by Susan, Ace Shoe Repair, Ichiban Sushi and Vogue Nails. Weiss Realty is the leasing and managing agent for the 70,000 s/f Colonial Village Shopping Center and Profes- sional Office Park. n
Fairless Hills Shopping Center
April 25 - May 15, 2014
ter is a 189,489 s/f shopping center anchored by Pathmark
Super Center and Big Lots. The property, owned by the original
Jaime Weiss represents owner and buyer in $5.25m sale of Walgreens Weiss Realty negotiates retail leases and investment sales totaling $11.5 million
HI-LIGHTS
UNION CITY, NJ — Moonachie, NJ based Weiss Realty Co., Inc. , a commer- cial real estate firm special- izing in representing a broad range of private investors, retailers, property owners and corporate clients has sold an 11,000 s/f Walgreens located at 3333 Park Ave., Union City to an investment client for $5,250,000. The transaction was arranged by Jaime Weiss who repre- sented both the owner and 1031 buyer. In Ridgewood, the Weiss firm sold a 10,941 s/f retail store located at 28-32 South Broad Street for $3,250,000. The property is occupied by Super Cellars a promi- nent liquor store and gour- met sandwich and cheese shop and the Bamboo House Chinese Restaurant. Jaime Weiss and Matthew Weiss were the sole brokers who negotiated the transaction on behalf of the seller and buyer who will also operate the liquor store. At Colonial Village, a neigh- borhood shopping destination on Rte. 27 Lincoln Highway and Parsonage Rd. in Edison, Jaime and Matthew Weiss
Marcus & Millichap arranges $4,548,960 sale of retail portfolio Contributing Columnists
Colonial Village Shopping Center - Edison, NJ
LETS MAKE A DEAL! www.jweissrealty.com
14C
Colliers brokers sale of $4.3 million Emmorton Village
Jaime M. Weiss (201) 615-0474 jweiss@jweissrealty.com Matthew B. Weiss (201) 814-1841 mweiss@jweissrealty.com
14C
ALSO Business Card Directory ........ 16A Retail Brokerage Directory ..... 17A www.marejournal.com
FOR SALE OR LEASE 160 Route 46 East Lodi, NJ
Made with FlippingBook - Online catalogs