FAMECO NEGOTIATES PURCHASE OF
PENN PLAZA IN READING, PA.

    PLYMOUTH MEETING, PA.--Fameco Real Estate represented the buyer in the purchase of the 177,000 s.f. Penn Plaza shopping center in Reading Pa., it was announced by John Fasciano, Principal, of the retail real estate firm based in the Plymouth Meeting, Pa. 

   Fasciano said the center located at 3045 Fifth Street Highway, and anchored by Kmart, JoAnn Fabrics and Dollar Tree, was purchased by a private New York investor.  The seller was Pasbjerg Development Company.   Fameco's Ron Cappello negotiated the deal. According to Cappello, “the property is directly across from the Fairgrounds Square Mall, along the primary retail corridor of Reading, PA.”

     The Delaware Valley's foremost real estate firm in the retail sector, Fameco Real Estate specializes in retailer representation, owner representation, investment sales and management services in Pennsylvania, New Jersey, Delaware and beyond.  The firm is the exclusive representative for 64 shopping centers and retail properties totaling 12 million square feet in the tri-state area, manages more 6.6 million s.f. of retail space nationwide, and exclusively represents more than 55 retailers expanding in the Delaware Valley.  Fameco's Investment Sales Team has completed transactions in excess of $1 billion. Fameco is the ChainLinks member shareholder in the Delaware Valley. The nation's largest retail-only real estate provider, ChainLinks encompasses 60 regional brokerage firms in the U.S. and Canada.     

Jul 14 , 2006