Monday, April 18, 2016

Deal Tracker - A Roundup Of Recent Philadelphia Market Transactions

by Steve Lubetkin, Globest.com

A range of smaller transactions have taken place recently in the Philadelphia and Eastern Pennsylvania markets. Here’s a roundup:

Haines Eastburn Stenton Corp. has sold Ogontz Plaza, at the intersection of 72nd and Ogontz Avenue in Philadelphia, PA, to City View Commercial for $2.9 million. It is 33,000 square foot shopping center located in the West Oak Lane neighborhood.

PHILADELPHIA, PA—CVS Pharmacy in the Holmesburg section of Philadelphia, PA was sold.   The property, originally constructed in 1999, is occupied by CVS under a double net lease.  Before the end of the primary term of the original lease, CVS entered into a lease extension creating a lease term that continues to 2036 with additional options.

LEASING

PHILADELPHIA, PA—Community Integrated Services, the largest Philadelphia-based employment search agency for people with disabilities, expanded its lease for office space at 441 North 5th Street in Philadelphia, PA.  CIS increased its offices to approximately 8,700 square feet on the first floor of the four-story building.  CIS has been situated in 6,337 square feet of the building since 2006 under an initial lease. Miller Building Partners are the owners of the 80,000 square foot structure, and will extend CIS’ tenancy at 441 North 5th Street to the later years of this decade.  Financial terms were not disclosed.

ERIE, PA—Locally based furniture operator Fred’s Furniture has leased 6,720 square feet at Liberty Center I in Erie, becoming the latest retailer to join the tenant in the 227,000sf shopping center.

SUSQUEHANNA, PA—Maxim Healthcare Services, Inc. leased new office space at 800 Corporate Circle, Susquehanna Twp.

LOWER PAXTON TOWNSHIP, PA—Comprehensive Cleaning Solutions has leased warehouse space at 6130 Jonestown Road, Lower Paxton Twp.
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