Allentown, PA – September 10, 2010 – (RealEstateRama) — The Hampshire Companies, a full-service, private real estate investment firm with equity in assets valued at more than $2 billion, has announced the acquisition of an 84,000-square-foot retail building located at 1135 Airport Road in Allentown, Pa. from an affiliate of the Rosen Group, Inc.
Conveniently located in a high-traffic area with nearly 24,000 vehicles passing the property on a daily basis, Airport Plaza Shopping Center is anchored by a 56,000-square-foot Redner’s Warehouse Market, a regional supermarket chain. Currently 95% occupied, other tenants of the plaza include Rent-a-Center and Enterprise Rent-a-Car. 4,500 square feet of space is currently available for lease at the center, which is situated on more than 11 acres, and is strategically located approximately three miles from the Allentown-Leigh Valley International Airport and within a five-mile radius of over 250,000 consumers.
“375 Grocery-anchored retail centers provide stability even in uncertain markets,” said Rob Schmitt, a Principal of The Hampshire Companies. “The long-term lease with Redner’s was a definite draw, but additional desirable features include the high occupancy rate at the property and the strategic location of the property in a dense, highly-traveled urban market.“
The Hampshire Companies represented themselves in the transaction and Gil Neuman of KLNB Retail Sales and Special Assets represented the seller. For leasing information please contact Ray Ayers at 973-734-3540.
About MCB Real Estate
MCB Real Estate is a Baltimore-based real estate investment firm which acquires retail, industrial and office assets in East Coast markets. Additional information on MCB is available at www.mcbrealestate.com.
About The Hampshire Companies
The Hampshire Companies is a full-service, private real estate firm based in Morristown, New Jersey. The Hampshire Companies is a vibrant, dynamic organization that combines creative vision and superior execution, thereby enabling it to create and enhance value in real estate investments. Additional information on The Hampshire Companies is available online at http://www.hampshireco.com.