281,193 Sq. Ft. Retail Mall Near Pocono Mountains Sold Debt-free to Private Investor
Philadelphia, PA – March 2, 2015 – CBRE has
brokered the sale of Shoppes at Montage, a 281,193 sq. ft. specialty retail
center located in Moosic, PA. Kevin McClernon from CBRE’s Wayne, PA office and
Bob Mahoney and Rich Frolick from CBRE’s Oakbrook, IL office represented the
seller, Duke Realty. The property was sold to USPG Holdings, Inc.
shopping center is ideally located in the heart of the Wyoming Valley near
Scranton and the Pocono Mountains,” said McClernon, Senior Vice President with
CBRE’s Investment Properties division. “Its close proximity to both New York
and Philadelphia, as well as PNC Field and the Toyota Pavilion Ampitheater,
made this very attractive to the buyer, as did the presence of some of the biggest
names in retail, including J. Crew, Aeropostale, Bath & Body Works, J.
Jill, and a wide variety of restaurants and other shops. We were able to team
up with our Debt and Structured Finance division and sell this property
at Montage is located on a 52-acre campus and is home to more than 50 retail
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
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