 |
| Claudia Steeb |
BOSTON, MA – HFF announced today that it has closed the sale
of Logan Town Centre, a 715,819-square-foot, grocery-anchored shopping
center in Altoona, Pennsylvania.
HFF
marketed the property exclusively for the seller, AVR-ALTOONA, L.P. The buyer, a private investor, purchased the
center for $101.5 million and assumed the existing loan.
Logan
Town Center is situated on 75 acres at 155 Falon Lane along Interstate 99, near
Logan Valley Mall and the Altoona Campus of the Pennsylvania State University
in central Pennsylvania.
Completed in
several phases from 2006 through 2012, the center is 98.4 percent leased to
tenants including Giant Eagle Supermarket, Kohl’s, Best Buy, Staples, Bed Bath
& Beyond, Michaels, Ross, Boscov’s and Dick’s Sporting Goods.
The HFF investment sales team was led by senior managing
director Jim Koury and managing director Claudia Steeb.
“Logan Town Centre is an exceptional grocery-anchored power
center property offering long-term leases, credit tenants, a strong sales
record, excellent accessibility and visibility from I-99,” said Koury. “It is the dominant shopping center within a
45-mile radius”.
 |
| James Koury |
AVR
Realty has been in business for over 45 years and has built, acquired and
developed over 30 million square feet of commercial and residential space.
AVR’s portfolio includes office buildings,
shopping centers, corporate and industrial properties, apartment complexes,
residential communities and hotels.
For a complete copy of the company’s news release, please
contact:
Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell:
617-543-4873 | www.hfflp.com
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