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| Franklin Center, 1320 Lincoln Way East, Chambersbourg, PA |
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| 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
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| 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 | www.hfflp.com
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