S hopping C enters Highland Development Group and The Glenville Group sell Lawndale Plaza Nathanson and Gorman of CBRE broker $24.5m sale of 93,282 s/f Shoprite anchored center P www.marejournal.com M id A tlantic Real Estate Journal — Shopping Centers — 5A hiladelphia, PA — CBRE, Inc. has bro- kered the sale of Lawn- especially with the number one grocery operator in Phila- delphia,” said Nathanson,
e x e c u t i v e vice president with CBRE’s Greater Phil- adelphia re- gion. “Lawn- dale Plaza is a wonderful addition for Cedar Realty
dal e Plaza, a 93,282 s/f S h o p R i t e - anchored re- tail center in Philadelphia. Highland De- v e l o p m e n t Group and The Glenville
Brad Nathanson
Tom Gorman
Trust to an already strong portfolio of grocery-anchored shopping centers in the city of Philadelphia.” Lawndale Plaza is currently 100 percent occupied and is located at the intersection of Oxford Avenue and Levick Street, a high-traffic location directly across from the Naval Support Base/Naval Supply Depot. n
Group sold the property for approximately $24.5 million to Cedar Realty Trust. Brad Nathanson and Tom Gor-
March 27 - April 9, 2015
Lawndale Plaza
man of CBRE represented both buyer and seller. Developed in 1998, the shop- ping center boosts a stellar lineup anchored by a 63,342
square foot ShopRite, and also includes Advance Auto Parts, T-Mobile, and Dunkin’ Donuts. “With the lineup of major
national tenants as well as its superior positioning at a high-visibility, busy intersec- tion, this center is attractively situated in the marketplace,
HI-LIGHTS
Retail Experts
Jacksonof Cushman&Wakefield|Grant Street introduces Geiger and Iaquinta to NA Center
SPOTLIGHT
Wexford, PA — The Shopping Center located at 10339 Perry Highway inWex-
ford, known as NA Cen- ter, has been p u r c h a s e d by an Invest- ment Group led locally by Pittsburgh- area Moe’s Sou t hwe s t
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HFF’s Ade & Bigos secures $17.7m
John Jackson
Grill Franchisees Mike Gei- ger and John Iaquinta. This center is strategically located in the Wexford Flats at the entrance of North Allegheny Senior High School. The group plans major renovations to the façade and pylon sign of the nearly 17,000 s/f building, and have announced that Moe’s South- west Grill will anchor the plaza with a new restaurant on the end cap. “We are excited to open Pittsburgh’s 7th Moe’s loca- tion, especially in the year we celebrate our 10th anniversa- ry in the Market. The North Hills, and Wexford specifical- ly, has been on our roadmap for quite some time. At Moe’s
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Bennett Williams arranges 54,814 s/f
Cherry Tree Crossing said Geiger. “We liked the Wexford area, but found most of the centers in the area were not up to our standards. When our broker, John Jackson of Cush- man & Wakefield | Grant Street Associates , intro- duced us to this location, we immediately saw the poten- tial and worked very quickly
we always work to establish a great connection in the com- munity and North Allegheny has been considered a huge part of our fan base since we opened in Cranberry in 2005. One of our most consistent guest feedback requests has been to open a spot further on south on 19, so we are proud to be able to make it happen.”
to close on the property. The idea of developing the look and feel of an entire cen- ter around our brand and customer base is a very at- tractive proposition.” said Iaquinta of the development opportunity. Moe’s anticipates opening by the end of summer. The ownership group. n
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