S hopping C enters
Section B of the Mid Atlantic Real Estate Journal
EASTERVILLE, PA — Marcus & Millic- hap Real Estate In- Soloff of Soloff Realty & Development represented seller of 24,803 s/f Shopping Center Nathanson of Marcus & Millichap negotiates $7m purchase of The Shops at Walnut Grove F
$7,000,000 or $282 psf. Brad Nathanson , a senior director in the Philadelphia of- fice of Marcus &Millichap’s Na- tional Retail Group (NRG) , represented the purchaser, a Pennsylvania-based shopping center operator. Richard Sol- off , with Soloff Realty & De- velopment , represented the seller, a Pennsylvania based management company, who is the original developer. Built in 2011, The Shops at Walnut Grove is located adja-
cent to a brand new 170-unit luxury townhome community calledWalnut Grove at the high traffic intersection of Bustleton Avenue and County Line Road. The property is anchored by discount grocer, Bottom Dol- lar Food, a Delhaize America Company. The shopping center was built in conjunction with the townhomes as a master- planned community whereby BottomDollar provided the gro- cery component that serviced the community. n energy specialist. Tops Plaza, an 85,000 s/f gro- cery anchored center, is located on Main Street in Norwich, NY. The shopping center is 85% occupied and is anchored by a 59,000 s/f Tops Market. Other tenants include a Dollar Tree, a Chinese restaurant and a Rent a Center. Daniel Katz , a principal of Katz Properties said, “The acqui- sition of these three properties represented a solid ending to an active year. We were pleased with the opportunity to add to our growing portfolio of proper- ties in MA and NY as well as to make our entree to the Midwest region through the acquisition of the Shaker Town Centre in Ohio.” n
v e s t m e n t Services has brokered the sale of The Shops at Wal- nu t Gr o v e , a 24,803 s/f neighborhood center, located at 23 Bustle-
Brad Nathanson
ton Pike in Feasterville, Bucks County. The sales price was
The Shops at Walnut Grove
December rounds out solid ending to very active 2012 Katz Props. acquires 3 anchored centers totaling $22,400,000
January 25 - February 7, 2013
HI-LIGHTS
NEW YORK, NY — Katz Properties of New York com- pleted the acquisition of three new properties, encompass- ing a total of 240,000 s/f, for $22,400,000 in December 2012. The three properties are the Shaker Town Center in Shaker Heights, OHWayland Village in Wayland, MA and Tops Plaza in Norwich, NY. Shaker TownCenter, a 123,000 s/f supermarket anchored shop- ping center, built in 1991, is situated on 11 acres located at 16601 Chagrin Boulevard in Shaker Heights, OH, an affluent suburb of Cleveland. The shop- ping center is 94% occupied and anchored by a 42,000 s/f Heinen’s Fine Food, a leading regional grocer. Additional anchors are
Cronheim Mortgage arranges $13.2m for Totowa Square SC
Dev Morris and Andrew Stewart have arranged permanent financing in the amount of $13,200,000 for a Toys “R” Us, Conway, Office Depot, and Bob’s Stores an- chored shopping center. See page 3B
Shaker Town Center
Ace Hardware and Dollar Tree. Wayland Village, a 32,000 s/f supermarket anchored shopping center, built in 1961, is situated on 3.38 acres located at 297 Bos- ton Post Road in Wayland, MA, an affluent community 20 miles from Boston. The center is an- chored by a Whole Foods Market and other tenants include a dry cleaner, a Chinese restaurant, a shipping center and a home
McShea’s investment sales division inks $2.675m sale
McShea & Company, Inc. announces that its investment sales division closed on its 7th invest- ment sale transaction of 2012. See page 6B
7HEN YOU THINK REAL ESTATE THINK -ADISON
Shopping Centers featuring Mid Atlantic ICSC Conference & Deal Making
ALSO INSIDE:
s 4ITLE )NSURANCE s #LOSINGS s %XCHANGES s ,EASE !BSTRACTS
s &INANCIAL $UE $ILIGENCE s !RGUS 2EPORTS s #!- !NALYSIS s #OST 3EGREGATION 3TUDIES
M id A tlantic ICSC C onference & D eal M aking ... 5-15B ICSC O rganization P age ...............................................10B R etail B rokerage D irectory ........................................16B B usiness C ard D irectory ......................................... IBC-B
www.marejournal.com
. -!$)3/. s WWWMADISONCRESCOM
Made with FlippingBook - Online catalogs