159,327 Sq.Ft. Center sold to Cotswold Group in Harrison, NY
Philadelphia, PA –
March 13, 2015 – CBRE, Inc. has
brokered the sale of Pottstown Plaza in Pottstown, PA to The Cotswold Group for
an undisclosed price. Kevin McClernon and Peter Stevens from CBRE represented
both the buyer and the seller, Hudson Advisors. Pottstown Plaza is a 159,327
square foot shopping center anchored by Tractor Supply, and includes Giant (dark),
Applebee’s, and Fulton Bank.
“This was a tremendous value-add in a burgeoning market,”
said Kevin McClernon, Senior Vice President with CBRE’s Wayne, PA office. “Pottstown
Plaza offered a low unit cost and outstanding investment return. With limited competitive
future development, this presents an excellent redevelopment opportunity for
the 17-acre Plaza.”
In addition to brokering the sale, CBRE is involved in
both the leasing of the property through Adam Kohler and Patrick O'Donnell, as
well as the property management through Alex Amerine. This full complement of
services allowed CBRE to vigorously market and close the transaction.
CBRE Group, Inc. CBRE
Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in
Los Angeles, is the world’s largest commercial real estate services and
investment firm (in terms of 2014 revenue).
The Company has more than 52,000 employees (excluding affiliates), and
serves real estate owners, investors and occupiers through more than 370
offices (excluding affiliates) worldwide. CBRE offers strategic advice and
execution for property sales and leasing; corporate services; property,
facilities and project management; mortgage banking; appraisal and valuation;
development services; investment management; and research and consulting.
Please visit our website at www.cbre.com