FRACKVILLE, PA. — Fameco Real Estate has arranged a 35,000-square-foot lease at Schuylkill Mall in Frackville. The space will be occupied by Las Vegas-based junior department store Famous Labels. Fameco’s Jerry Johnson negotiated the transaction on behalf of the landlord, Michael Perlstein. Schuylkill Mall is anchored by Bon Ton, Kmart and Sears. Fameco Management Services acts as property manager for the mall.
Northeast
BETHLEHEM, PA. — Liberty Property Trust has sold a portfolio of five office buildings located in Bethlehem. The portfolio totals 152,100 square feet and consists of 1655 and 1685 Valley Center Parkway and 3400, 3450, and 3500 High Point Boulevard. Set on 21 acres at the Schoenersville Road exit of Route 22, the Class A office buildings are located within a 175-acre master-planned development. The portfolio, which was 91 percent occupied at the time of the sale, was purchased for an undisclosed price by Bethlehem LVCC Associates. Michael Hines and Robert Fahey of CB Richard Ellis represented the seller.
NEW YORK CITY — The Empire State Building is slated to undergo a green renovation process that will reduce the building’s energy use and greenhouse gas emissions by up to 38 percent. Changes include a 6,500 window light retrofit, the introduction of radiator insulation, improved tenant lighting, daylighting and plug upgrades, air handler replacements, a chiller plant retrofit, a whole-building control system upgrade, ventilation control upgrades and new Web-based tenant energy management systems. Upon completion, the building should achieve an ENERGY STAR score of 90, and it will pursue LEED Gold certification. Jones Lang Salle will be managing the renovation. The initial cost of the renovation is anticipated to be $20 million with a resulting $4.4 million in annual energy savings once the project is complete.
WEXFORD, PA. — Marcus & Millichap recently completed the $4.4 million sale of Festival Foods in Wexford. The 50,198-square-foot shopping center is located in the Wexford Plaza Shopping Center and was not in use at the time of the sale. Andrew Marguiles, Tom Gorman and Matthew Gorman of Marcus & Millichap represented the seller, PC Wexford Associates, and procured the buyer, ECHO LB Associates.
NEW JERSEY — White Plains, N.Y.-based Howard Properties and Chatham, N.J.-based The Garibaldi Group have arranged a build-to-suit lease transaction for Cervalis. The company will occupy a newly constructed, 148,191-square-foot data center in northern New Jersey that will be developed by Hackensack, N.J.-based Russo Development. The facility will feature 50,000 square feet of raised floor data center space, as well as 25,000 square feet of workspace, recovery space and administrative offices. It marks Cervalis’ entry into the New Jersey market; its other facilities are located in New York and Connecticut. The company could not disclose the future address of the building. The construction timetable was not released. Howard Properties and The Garibaldi Group are both affiliates of CORFAC International.
CATSKILL, N.Y. — Stan Johnson Co. has negotiated the sale of a 14,550-square-foot, freestanding Walgreens, located in Catskill, for $4.8 million. Brad Pepin of Stan Johnson Co. represented the seller, Point Five Development Catskill, which is also the developer of the property. Todd Curley of Coldwell Banker Commercial Prime Properties represented the buyer, an individual investor participating in a 1031 exchange.
LODI, N.J., AND ALDAN, PA. — Marcus & Millichap has completed two multifamily sales. In Lodi, the firm’s New Jersey office brokered the sale of a 24-unit apartment property for $2.7 million. Marcus & Millichap’s Kevin McCrann and Thomas McConnell represented the seller, a private investor whose family built the property and has operated it for three generations. In Aldan, Marcus & Millichap’s Philadelphia office brokered the $1.47 million sale of the Maryland Avenue Apartments, a 30-unit property located at 78 W. Maryland Ave. The property contains a mix of one- and two-bedroom units, and it was approximately 97 percent occupied at the time of sale. Mark Wolff of Marcus & Millichap represented the seller, a local partnership, and procured the buyer, another local partnership.
SOUTH BRUNSWICK, N.J. — Hackensack, N.J.-based NAI James E. Hanson has brokered the subleasing of 208,899 square feet of distribution space at 1203 Cranbury South River Rd. in South Brunswick. The facility features 32-foot clear ceiling heights, 25 trailer parking stalls, 35 tailgates and ESFR sprinkler systems. NAI’s Kenneth Lundberg, along with Joel Hausman of Fairfield, Conn.-based Colonial Realty, represented the tenant, Melissa & Doug, a designer and manufacturer of educational toys and children’s products. Melissa & Doug will relocate from its current facility in Connecticut. Dennis McConnell of Jones Lang LaSalle represented the sub-landlord, Aeropharm Technology.
PITTSBURGH — CB Richard Ellis (CBRE) has been selected by Rugby Realty Co. to serve as exclusive leasing agent for its approximately 2 million-square-foot Pittsburgh office portfolio. The nine-property portfolio features five marquee office towers, including 11 Stanwix Street, The Frick Building, Gulf Tower, 4 Allegheny Center and 564 Forbes Avenue. The other four properties include 914-922, 925, 933 and 938-940 Penn Avenue. CBRE’s leasing team will be led by Jeremy Kronman and will include Andrew Miller, Christina Bucciero and Courtney Lynn. CBRE plans to roll out its new marketing and pricing information over the next 30 to 60 days.
NEVILLE TOWNSHIP, PA. — Redevelopment is under way for the former Dravo Engineering building, located at 4800 Grand Ave. in the Pittsburgh suburb of Neville Island. The property’s owner, JLS Land Company LLC, plans to demolish the building that currently sits on the 8.5-acre site and construct a single-story flex industrial park ranging from 80,000 to 120,000 square feet in size. The existing building is presently being demolished. A market study is being completed to determine the type of product to be built. Preconstruction services are expected to take 6 to 12 months to complete, with groundbreaking to follow soon after. Burns & Scalo Real Estate Services is serving as the owner’s construction representative in the project.