CBRE announced that it has arranged for the sale of Holliday Towne Center, an 83,122-square foot community shopping center located at 221 Glimcher Drive in Duncansville, Pennsylvania.
Built in 2003, Holliday Towne Center is anchored by a 54,322 square-foot Martin’s Food market, a sister company to Giant Food Market of Carlisle. Both supermarkets roll up to Ahold USA with over 780 stores in the United States. Other tenants include Dollar Tree, Domino’s Pizza and Holiday Hair, among others.
CBRE team members Brad Nathanson, Adam Rosenzweig,Kyle Prawdzikand John Colussirepresented the seller,RPAI, and identified the buyer, Equity Investment Group, during the transaction. The shopping center was 81 percent occupied during the time of sale.
Rosenzweig says, “Holliday represents what the investor universe is seeking today – a value-add mature shopping center anchored by the market share leading dominant grocery store complimented by the largest dollar store chain in the country. We are still finding strong demand for our offerings that include a grocery store, whether in secondary or primary trade markets.”
Holliday Towne Center is located in Western Pennsylvania in the greater Altoona submarket, approximately 2 hours south of Pittsburgh and 3.5 hours west of Philadelphia.
About 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 (based on 2016 revenue).The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide.CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services.Please visit our website at www.cbre.us.