P ennsylvania
S hopping C enters
Section C of the Mid Atlantic Real Estate Journal
Shupak & Bell negotiate 2 transactions totaling $5.705 million Newmark Knight Frank Smith Mack completes $3 million sale of Whitemarsh Corporate Ctr. East
A
MBLER, PA—Newmark Knight Frank Smith Mack (NKFSM) recently
closed the $3 million sale of the Whitemarsh Corporate Center East Building, located at 7002 Butler Pike, Ambler, to Liberty Lutheran Services. The 25,000 s/f Class A building, renovated in 2008, will become Liberty Lutheran’s headquarters. NKFSM brokers Neil Shupak and Justin Bell, who repre- sented the building owner, 7 East Skippack Associates, L.P., a partnership under the umbrella of Keystone Property Group, first crossed paths with Liberty Lutheran three years ago when canvassing for another listing that is across the street from the
Whitemarsh Corporate Center East Building
601 Davisville Road
Artman Lutheran Home, one of the facilities where Liberty Lutheran had some office space. They wanted to free up space in the Artman facility to expand their resident care areas. Ac- cording to Shupak, “Once Liberty
Lutheran decided to consolidate their offices from three buildings into one facility, the Whitemarsh Corporate Center East building became their prime focus.” WILLOW GROVE, PA— New- mark Knight Frank Smith Mack
on 6.18 acres with parking to accommodate 200 cars. After completion of renovations the property will serve as corporate headquarters for Premier Office Solutions. The purchase price was $2,705,000. n
recently completed the sale of 601 Davisville Rd., in Willow Grove, for Davisville Investors, LP. Listing brokers Neil Shupak and Justin Bell sold the former Elmar Window Fashions facil- ity, a 98,000 s/f building situated
Cole & Willems negotiate 70,500 s/f in 2 transactions NAIKeystoneassistsMuhlenbergTwp. in $1.150m purchase of new facility
August 17 - 30, 2012
HI-LIGHTS
MUHLENBERG TOWNSHIP, PA — NAI Keystone’s Bryan Cole & Steve Willems assist- ed Muhlenberg Township in purchasing their new facility along 5th Highway, 210 George Street. The property was originally listed at $2,750,000 due to the extensive amount of im- provements; and after ne- gotiations and utilizing the detailed market knowledge along with taking advantage of the current market conditions, NAI assisted the township in finalizing a deal at $1,150,000 which equates to $27.38 psf for
over 10 years, was vacated in 2012 due to Goodwill purchas- ing a larger facility for its use in Berks County. The property which was situated on 1.76 acres, included 28,000 s/f of building spread-out over two floors. NAI Keystone was the sole broker in the transaction. Bryan Cole also handled a lease renewal for The Reading Hospital & Medical Center at 2101 State Hill Road in Wyo- missing. The total leased space was 16,554 s/f and is utilized for their Physical Therapy Operations. n
HilsherofMericle leases198,400 s/f of industrial space
Well-known retailer The Nei- man Marcus Group has leased a 198,400 s/f industrial building from Mericle Commercial Real Estate Services in CenterPoint Commerce & Trade Park East in Jenkins Township. See page 2C.
210 George Street
the 42,500 s/f building. In addition, Bryan Cole & Steve Willems handled the sale of 330 N. Wyomissing Ave in Shillington PA. The 28,000 s/f flex facility owned and oper- ated by Goodwill Keystone for
The Hampshire Cos. sells a 110,000 s/f industrial property
TheHampshire Companies has announced the disposition of a 110,000 s/f industrial property located at 110 Thousand Oaks Boulevard in Morgantown. See page 3C.
W E K NOW NOT ONLY WHAT IS P OSSIBLE N OW BUT ALSO WHAT MIGHT BECOME P OSSIBLE IN THE F UTURE
Delivering Results…. ...Now
ALSO INSIDE:
more than Ever
P ennsylvania ’ s E lite C ompanies S potlight ............. 5-12C PA P roject N ews ............................................................13C Crew L ehigh V alley ....................................................15C PA P eople & C ompany N ews . ........................................16C
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