FAMECO NEGOTIATES SALE OF

PROPERTIES IN PA AND N.J. FOR $30 MILLION  

       PLYMOUTH MEETING, PA.—The Investment Sales Division of Fameco Real Estate negotiated the sale of the Phoenixville Corporate Center in Phoenixville, PA, and Larchmont Commons in Mt. Laurel,  N.J., it was announced by Brandon Famous, CEO and founder of the retail real estate firm based in Plymouth Meeting, Pa.

     Fameco’s Ronald J. Cappello, the broker in both transactions,  said Fameco represented the seller in the Phoenixville  sale, Rosedon Holdings, and also secured the buyer, CPG Acquisitions.  The 167,531 s.f. facility at 1039-1041 West Bridge Street is anchored by Bilcare, Inc. The purchase price was $12 million.

     Fameco represented the seller, Lightstone Group, in the sale of Larchmont Commons, a 126, 923 s.f. shopping center anchored by Aldi and Planet Fitness at 3105-3117 Route 38 in Mt. Laurel.   The purchase price exceeded $17 million.  Fameco also represented RPC Real Estate, the buyer in this transaction. 

     “The relationship we established with Lightstone as the leasing agent for Larchmont Commons and our expertise in the retail marketplace resulted in our selection to sell the property,” Cappello said.  “Despite the current economic climate, we received a number of offers from credible buyers and closed the deal in a timely fashion.”

   Cappello noted that while Fameco Real Estate is the Delaware Valley's foremost real estate firm in the retail sector, it also represents clients in other commercial real estate transactions, such as the sale of the Phoenixville Corporate Center.

     In the retail sector, Fameco 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 more than 150 shopping centers and retail properties totaling 17 million square feet in the tri-state area, manages 10 million s.f. of retail space and exclusively represents more than 75 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. ChainLinks is the nation's largest retail-only real estate provider with 62 regional brokerage firms in the U.S. and Canada.

September 5, 2008