Kenhorst Shopping Center Sold

Kenhorst Shopping Center Sold

Katz Properties based in New York purchased the Kenhorst Plaza Shopping Center in Shillington for $16.150 Million.  The property consisted of 161,424 square feet and was comprised of 26 total spaces of which twenty were occupied.

Some of the key tenants located within the center are Redner’s Warehouse Markets, Dollar Tree, and the U.S. Post Office.

The property has been part of numerous sales including a transaction in 2008 when it sold for $22.397 Million and a transaction in 2001 for $18.725 Million.

A 28% drop in value since 2008, although the rent rolls were not compared.

 

For More Information about Local News, Market Intel, or Commercial Real Estate Opportunities; visit www.Bryan-Cole.com

Bryan E. Cole | Team Leader
NAI Keystone Commercial & Industrial, LLC
direct: 610-370-8502
Bcole@naikeystone.com

Check out my new website at www.Bryan-Cole.com

NAI Keystone is a full service commercial and industrial real estate firm located in Reading PA; We handle buyer, tenant, and landlord representation throughout Pennsylvania and with the association of our global partners we can assist in locating product throughout the country.

 

Sale of REO Property in Douglassville

NAI Keystone’s Bryan Cole and John Buccinno handled the sale of 1.6 Acre lot in Douglassville.  The site was taken back by the bank as part of a bankruptcy.  NAI Keystone was given the assignment by the Bank to dispose of the property.  NAI had the property under contract within 3 months of listing the site, and sold the property at a competitive number while getting a quick and favorable deal for the bank with a raw piece of dirt.  The site was owned by Park Avenue Funding in New York which is a subsidiary of The Lightstone Group.