Friday, July 8, 2016

HFF named to market for sale south central Pennsylvania retail power center

Franklin Center, 1320 Lincoln Way East, Chambersbourg, PA
Chris Munley

 PHILADELPHIA, PA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has been retained to market for sale Franklin Center, a 174,667-square-foot retail power center in the south central Pennsylvania community of Chambersburg.  

HFF is marketing the property on behalf of Coastal Equities.   

Renovated and redeveloped in 2015, Franklin Center is 96 percent occupied by a best-in-class tenant roster, including anchor tenants Dick’s Sporting Goods, Ulta Beauty, Petco, T.J. Maxx and Ollie’s Bargain Outlet.

 Additionally, the center has three separate potential inline and outparcel development sites totaling more than 27,000 square feet.  

Situated on 25 acres at 1320 Lincoln Way East, Franklin Center is in the region’s primary retail corridor of Lincoln Way East (Highway 30), which attracts shoppers from surrounding municipalities.  

The center is less than half a mile from Interstate 81, the most heavily traveled highway in the region.

The HFF investment sales team representing the seller is led by managing directors Chris Munley and Kevin O’Hearn, senior managing director Jose Cruz and associate director Michael DiCosimo

Kevin O'Hearn
"Franklin Center is a unique acquisition opportunity in the current marketplace, having both a preeminent tenant roster with newly-executed, long-term leases to some of the top-performing brands in retail while still offering significant remaining upside to substantially grow property-level NOI over the course of the hold period," Munley said.

  For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Director, Marketing
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 |

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