S HOPPING C ENTERS
Section C of the Mid Atlantic Real Estate Journal
Flynn & Wurtz of NAI Hiffman & Shepley of NAI CIR rep tenant Murray of Matrix Development Group announces 1.03 million s/f lease
“This lease will continue to provide World Kitchen with a significant presence in the PA industrial market, particu- larly the I-81 South market, which is a dynamic distri- bution hub that features a tremendous pool of labor residing within commut- ing distance,” Murray said. “Additionally, 1200 South Antrim Way offers outstand- ing proximity to the ports of Philadelphia and Baltimore, as well asmajor international airports including Philadel- phia, Ronald Regan, Dulles and Baltimore/Washington. It also puts the company within an overnight drive of one-third of the nation’s population.” n
the facility, the incorporation of an ESFR sprinkler system, new roofing, additional truck docks and a new building en- velope consisting of pre-cast concrete and metal panels. Site work will include the expansion of trailer parking by more than 150 stalls and the allocation of land to ac- commodate approximately 230,000 s/f of future expan- sion. Situated on 70 acres, 1200 South Antrim Way, which benefits from being within Foreign Trade Zone 147, is less than a quarter-mile from the planned Norfolk Southern Intermodel Freight Transport Facility and is less than one mile from Exit 3 of
REENCASTLE, PA — Matrix Devel- opment Group an-
nounces that World Kitchen has signed a full-building lease renewal to continue occupying the entirety of 1200 South Antrim Way, a 1.03 million s/f warehouse/ distribution facility in Gre- encastle. The building will undergo an extensive capital improve- ment program— in excess of $10 million — to modernize the facility for World Kitchen, a Rosemont, Ill.-based kitch- enware provider. The renovations will include 20,000 s/f of new corporate office space, replacement of HVAC systems throughout
Interstate 81. An additional 64 acres is available for fu- ture development. Matrix vice president James R. Murray provided in-house representation in the transaction, while World
Kitchen was represented by NAI Hiffman executive vice president Michael J Flynn, SIOR, CCIM, and vice presi- dent Jason Wurtz , with as- sistance from Jack Shepley of partner firm NAI CIR.
Raineri handled complex negotiations of $750,000 sale & leaseback Cognetti of Hinerfeld announces 3 industrial sales totaling $2.255m
DECEMBER 7 - 20, 2012
SCRANTON, PA — John T. Cognetti, SIOR, CCIM , presi- dent of Hinerfeld Commer- cial Real Estate announces the sale of three industrial properties. Two of the sales are on the KeyserAve. corridor in the Key- ser Valley industrial section of Scranton. This industrial area is home to two major industrial parks and several distributors and small businesses in both the City and Taylor Borough. The property at 825 South Keyser Ave. sold to Creek Bend Realty, LLC of Owego, and NY. The 28,000 s/f former
RIDC sells O’Hara building to Tsudis Chocolate Co. for $3.9m
RIDC announces the sale of 610 Alpha Drive in the RIDC Industrial Park in O’Hara Township to Tsudis Chocolate Company, who had leased the building from RIDC for the last ten years. See page 2C.
825 South Keyser Avenue
produce and restaurant supply warehouse sat on 3.7 acres of land. It sold for $800,000 by private owners. The sale of the property at 745 North Keyser Ave. for $750,000 consisted of 29,400 s/f on 1.72 acres. The property was sold to WREPAssociates of Lebanon, PA. Real estate negotiations
were handled by Ellen Raineri , associate broker at Hinerfeld. The complex negotiations in- volved a sale and leaseback of part of the building. Four Skyline Drive, located in the Shady Lane Business Park in SouthAbington Township was sold for $705,000. The 16,000 s/f building sits on three acres. n
Century 21 Park Road leases 43,000 s/f of warehouse space
Greater Reading Eco- nomi c Par tner shi p (GREP) announces the relocation of TAB Indus- tries, LLC to Greater Reading in Muhlenberg Township. See page 3C.
ARCHITECTURE PLANNING LANDSCAPE ARCHITECTURE URBAN DESIGN
C ENTRAL PA S POTLIGHT ..................................................5-9C CREW L EHIGH V ALLEY ...................................................10C PA P ROJECT N EWS ........................................................... 11C P EOPLE & C OMPANY N EWS ...............................................12C
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