HAMBURG and Moosic, PA — Colliers announced the investment sale of a 37,840 s/f grocery anchored shopping center at 552 State St. in Hamburg. Scott Horner, vice president and Derek Zerfass, senior vice president of Colliers successfully brokered the transaction, representing both buyer Sar and Company and seller Linda King.
The asset is anchored and corporately guaranteed by Weis Markets, a PA based regional supermarket chain with over 200 locations throughout the Midatlantic region.
“Notably the property had been on the market for over a year prior to listing with Colliers. We are proud of our team’s ability to deliver demand – not only did we source multiple buyers immediately we were able to secure backup buyers to allow the team to successfully conclude the sale at the desired asking rate.” noted Horner.
In a second transaction, Colliers announced the sale of 15 Radcliffe Dr. in Moosic, PA which was originally listed at $1.5 million. The seller was represented by both Seth Lacey and Scott Horner of Colliers.
The property houses a former Ruby Tuesday’s, a fully built-out 5,750 s/f freestanding restaurant on 1.47 acres. The asset is influenced greatly by the popular Montage resort area as well as adjacency to PNC Field and inclusion in the highly favorable PDZ (Planned Development Zone) zoning district.
The buyer is property developer FAM VEST PARTNERS, LLC, the future plans for the site are unknown at this time.
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