14A — January 13 - 26, 2017 — Pennsylvania — M id A tlantic
Real Estate Journal
Cognetti, SIOR, CCIM brokers 44,000 s/f five-story transaction Hinerfeld Comm’l. Real Estate brokers the sale of Historic Samter Building in downtown Scranton S cranton, PA — The Hinerfeld Com- mercial Real Estate
Located at the corner of Penn Ave. and Lackawanna Ave., the five story 44,000 s/f building was last occupied by the State of Pennsylvania for government offices. A land- mark building, it is part of the Downtown Scranton Historic District and was restored in the mid-1990s after sitting vacant for many years. In its heyday, the Samters Depart- ment Store, as it was then known, featured fine men’s and women’s clothing equal in quality to that found in the finest stores in New York and Philadelphia.
John Cognetti, SIOR, CCIM of Hinerfeld Commer- cial, broker in the transac- tion, said “this important corner will add new life and most likely a different use continuing the revitalization of Downtown begun 40 years ago when Scranton residents became reacquainted with the City’s rich architecture and history.” n Stockton RE Advisors ink 10 leases totaling 40,000 s/f Philadelphia, PA — Jim Paterno , founder of Stockton Real Estate Advisors, LLC announced the signing nearly 40,000 s/f of office space at 1760 Market St., including nine new leases and four renewals. 1760 Market St., a 126,000 s/f building at the corner of 18th & Market Sts., is owned by 1760 Market Part- ners, LP, a partnership of affiliates of Alterra Prop- erty Group (“Alterra”) and Stockton Real Estate Advi- sors (“SREA”). Recent renova- tions to the building include a redesign of the lobby, new exterior lighted canopy, new landscaping, and upgraded common areas and tenant exclusive spaces. New to the recently reno- vated building, Security Risk Advisors explored a number of potential location options and found that 1760 Market fulfilled all the requirements needed for its cybersecurity consulting company. Secu- rity Risk Advisors leased the entire 3rd floor of 9,152 s/f. Ed O’Brien of F irst Base represented Security Risk Advisors in the transaction. Anderson Kill, P.C.will be relocating from existing space at 1600 Market St. Sandy Richardson of Colliers represented Anderson Kill in the lease transaction. Also relocating to 1760 Market St. early in 2017 is Kutak Rock. New to the building is Cap- stone Law Group/Your Out- sourced CFO, both of which will be moving in the first quarter of 2017. DanMoller , leasing representative for the landlord, 1760 Market Part- ners, LP, negotiated the lease transaction with Capstone and Your Outsourced CFO. n
C omp a n y announc ed the sale of a vacant of- fice building at 101 Penn Ave. in down- town Scran- ton owned by NBT Bank, NA.
The building was purchased by Scranton-Samter, LP. The purchaser has not yet revealed their plans for its use.
101 Penn Ave.
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