Harrisburg, PA — Landmark Commercial Realty Inc. announced that The Firehouse Restaurant, located on North Second St. in Harrisburg, has a new owner, Loft 21. Bo Mangam, of Landmark Commercial Realty, Inc. was the broker who marketed The Firehouse and negotiated the transaction. Read More #Harrisburg #Retail #CRE
Wayne, PA — Chris Yangello of Capital Commercial Real Estate Group (CCREG) recently completed the sale of Chili's Grill & Bar located at 312 W Lancaster Ave., Wayne. Both the buyer and seller were represented by Yangello, as transaction broker. Read More #chilis #retail #CRE #wayne
PHILADELPHIA, PA — Marcus & Millichap has announced the sale of The Parkside Portfolio, a 78,194 s/f retail and office portfolio located in Philadelphia, according to Sean Beuche, regional manager of the firm’s Philadelphia office. The assets sold for $15.375 million. Read More #marcusmillichap #retail #office
Bensalem, PA — Adler Realty Investments has purchased Bensalem Crossing, a 67,215 s/f retail property in Bensalem, for $11.5 million. Nationwide Life Insurance Co. originated a $7.1 million acquisition loan for the purchase. JLL Capital Markets represented the seller, a private investor, and secured the financing for the buyer. Read More #Retail #loan #finance
Great Neck, NY–– Joel Gorjian, a national real estate investor and president and CEO Gorjian Acquisitions, has completed the sale of the 489 Atlantic Ave. retail condominium as part of a disposition of the firm’s portfolio of eight retail and mixed-use properties. The sold assets total over 500,000 s/f and included properties located in the Midwest, Southeast, and Northeast. The transaction was valued in excess of $25 million. Read More #retail #NYCRE
Woodmere, NY — Jim Houlihan, Bryan Houlihan, and Christie Houlihan of Houlihan-Parnes Realtors, LLC to announced the placement of a construction loan in the amount of $10 million on the Five Towns Shopping Center located at 253-01 Rockaway Blvd., Woodmere.
Read More #loan #Retail #CRE
Englewood, NJ — The COVID-19 pandemic period (mid-March through mid-July 2020 thus far) has been a time that retail real estate has been hit hard, but Katz & Associates, following all social distancing rules, health and safety precautions, and sensitivity to the times, worked with tenants and landlords to close more than 50 transactions and secure more than 45 new assignments. Assignments varied across the retail landscape including: securing listings on a 160,000 s/f former
The global economy has been wracked by the COVID-19 pandemic, and no one yet knows exactly what the recovery will look like – or even when it will begin in earnest. In the meantime, the commercial real estate industry has found a way to work in this new normal. After a very busy fourth quarter, during which it was difficult to keep up with all of the requests and showings, optimism and activity carried into the early months of 2020. We then hit a wall when the novel coronavir
Center city, PA — Rittenhouse Realty Advisors announced the formation of Rittenhouse Retail, a new venture focused solely on retail sales and leasing. The company is led by top producing retail agent Larry Steinberg. Over the course of his career, Steinberg has worked with numerous national retailers, including Apple, Nordstrom Rack, Target Express, Warby Parker, J. Crew and Chipotle. He has also worked with top chefs and restaurateurs, including Marc Vetri, Michael Solomonov
Trexlertown, PA — CBRE Group, Inc. (CBRE) has negotiated leases for Dick’s Sporting Goods, Nordstrom Rack, Ulta Cosmetics, Chipotle, Verizon Wireless, Univest Bank, Kay Jewelers and Core Life Eatery at the new Hamilton Crossings shopping center in Trexlertown. CBRE|FAMECO retail team members Brian Bruzek, Adam Kohler, Rich Schuch, Steve O’Malley, Brandon Famous, Matt Mandel, David Orkin, Marc Mandel, Gary Leone and Colin Behr represented the tenants during the transactions, w
PHILADELPHIA, PA — Mission Capital Advisors’ Debt & Equity Finance team arranged $37.2 million in non-recourse financing for a portfolio of retail properties in Center City Philadelphia’s premier retail district. The Mission Capital team of Jason Cohen, Ari Hirt and Jamie Matheny arranged the loan on behalf of a major local investor.
“Our execution of this transaction in Philadelphia — a city that is experiencing an explosion of real estate investment — is a testament to Mis
Allentown, PA — Markward Group has completed a lease on 2000 s/f retail space at 5924 Tilghman St, Suite J.
A new tenant, Zanzibar Kababs and Grill, opened its doors to the public on Wednesday, May 11.
Ann Kline, associate broker at Markward Group, was the sole broker involved in the transaction. #MarkwardGroup #retail #Allentown #ZanzibarKababsandGrill
NORTH PLAINFIELD, NJ — Sustainability efforts have risen to the forefront for the retail real estate industry, with property owners and managers, along with their tenants, focusing year-round on incorporating planet-friendly efficiencies. In the following interview, Robert Carson, executive vice president of North Plainfield-based retail real estate services firm Levin Management talks about how certain property upgrades can position shopping centers as good corporate citizen
YORK, PA — Bennett Williams Commercial has arranged the sale/lease of the following transaction:
7,698 s/f industrial space at 50 E High St., New Freedom Borough. Corestone Wholesale, LLC leased the property from New Freedom Business Park, LLC. Karen Neiderer and Denny Neiman of Bennett Williams Commercial represented the landlord in the transaction.
850 s/f retail space at 2375 Eastern Blvd., Springettsbury Twp. Lisa LeBrun Dexheimer leased the property from Dino & Evelyn
Philadelphia, PA — CBRE Group, Inc. (CBRE) announced that the team of Michael Shover and Matthew Gorman have brokered the sales of thirteen properties in the first sixty days of 2016, totaling $26,673,150. In all thirteen transactions, CBRE represented the sellers.
The thirteen properties include two Rite Aid’s located in Monroeville, PA and Creedmoor, NC; two Family Dollar Store’s in Alliance, NC and Hookerton, NC; a Burger King and Applebee’s both located in Warren, PA; a
NEW BRUNSWICK, NJ — CBRE FAMECO, the retail division of CBRE Group Inc. in Southeastern Pennsylvania, Delaware and New Jersey announced that it has secured a location for the first Criminals and Tacos restaurant, at 103 Easton Ave. in New Brunswick. Steven Winters of CBRE FAMECO represented the business founder and owner, renowned chef Andrew Schiff, in the lease transaction.Operating under the ownership of Schiff & Wesson, LLC, Criminals and Tacos’ mission is to become the p
MONTVALE, NJ — The S.Hekemian Group broke ground for The Shoppes at DePiero Farm, a 225,000 s/f lifestyle retail marketplace in Montvale. The center will be constructed at a cost of $125 million, according to Peter Hekemian, senior managing director.The center is rising on the iconic 28-acre DePiero farm, the last large farm site in northern Bergen County. “This market is particularly known for its extremely high demographics, with some of the highest household income levels
NEW JERSEY — Bill Farkas and Steve Battista completed a deal with Little Caesars in 1,200 s/f on Main St. (shopping center with Food Basics) in Belleville, NJ.
Shane Wierks and Farkas completed three deals with Spirit Halloween in 5,000 s/f (North Plainfield, NJ), 20,000 s/f (Totowa, NJ) and 5,600 s/f (Phillipsburg, NJ).
Wierks completed a deal with Popeye’s Chicken on a 3/4 acre ground lease at 437 Rte. 46 East, Rockaway, NJ. The ground lease is with Urban Edge Propertie
SALISBURY, MD — Multiple SVN-Miller Advisors have collaborated to bring two additional Family Dollar stores to the shore; one location in Salisbury, MD and one in Princess Anne, MD.
Senior advisor Henry Hanna, CCIM, SIOR collaborated with advisor Joey Gilkerson to facilitate the sale of .86 acres on the corner of Snow Hill Road and Johnson Road in Salisbury, MD. Hanna represented the sellers and Gilkerson represented Hunt Real Estate, a Family Dollar developer. This will be
COCKEYSVILLE, MD — Marcus & Millichap announced the sale of Church Lane Shopping Center and GJK Plaza, a 97,308 s/f shopping center located in Cockeysville, according to Bryn Merrey, regional manager of the firm’s Washington, DC office. The two assets sold for $195.26 psf. Chris Burnham and Nathan Pealer, both in Marcus & Millichap’s National Retail Group, had the listing to market the property on behalf of the seller, a family partnership that had owned the shopping center f