Real Estate Journal — The Best of 2014 — March 27 - April 9, 2015 — Inside Back Cover C
M id A tlantic
The LARGEST RETAIL LEASES of 2014 Metro Commercial
Cushman & Wakefield (NJ) 100 Hamilton Plaza Paterson, NJ
NAI Summit Luzerne Plaza Scranton, PA
Floor N’ Décor Langhorne, PA
Broker: Joseph Dougherty Size: 73,000 s/f
Broker: John Crampsie Size: 40,877 s/f
The project was a redevelopment of a 104,000 s/f furniture store building known as The Dump in the Oxford Valley/Langhorne, PA trade area. Metro Com- mercial was able to assist ownership in the acquisi- tion and redevelopment of the property with Floor N Décor (+/-73,000 s/f) and Bob’s Discount Furniture (+/-31,000 s/f), along with outparcel opportunities. This is Floor N Décor’s first store location in Metro Philadelphia which solidifies the Oxford Valley trade area and the site as being a tremendous piece of real estate. Oxford Valley is located just north of Phila- delphia in Bucks County with easy access to Rte. 95, Pennsylvania Turnpike and New Jersey. In addition, it is home to the Oxford Valley Mall and Sesame Place.
NAI Summit’s John Crampsie represented the own- ers of Luzerne Plaza in the lease transaction with PriceRite for 40,887 s/f of retail space. Located at 611 Luzerne St. in Scranton, PA, PriceRite provides gro- cery items for low prices. With more 50 locations throughout the Northeast, PriceRite focuses on keeping operating costs low so they can pass significant savings along to its custom- ers. Known for its unmatched value, PriceRite offers customers the same quality foods as traditional super- markets at about half the price. NAI Summit handles the leasing and property man- agement for this center.
Brokers: Nancy Erickson, Jennifer Sofia Size: 18,028 s/f
Mountain Development, the landlord, allowed Cushman &Wakefield to take a partially below-street- level former TD Bank space in the heart of downtown Paterson and expand the footprint to include storage and hallways, allowing Planet Fitness to build its pro- to- typical full-serve gym.
Congratulations! Largest Retail Lease of 2014: Floor N Décor, Langhorne, PA - 73,000 SF
#7 Best Places to Work 2014
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