FAMECO NEGOTIATES SALE OF

COMMERCE PLAZA, DICKSON CITY, PA

     PLYMOUTH MEETING, PA.— Fameco Real Estate, L.P., the region’s foremost full service retail real estate firm has completed the sale of Commerce Plaza, Dickson City, PA.  

    Fameco’s Ron Cappello and Andrew Trabold represented the seller, C.J. Lombardo in the transaction.  The sale price exceeded $6 million and a cap rate under 8% was realized. The buyer is a local investor.

     “In a time where financing is tight the buyer was able to secure favorable financing from a local bank.  We were able to move quickly and close the deal within 30 days.  This speaks to the strength of small neighborhood centers even in this economy,” Trabold said.   

    The 39,870 square feet center is tenanted by Olive Garden, Red Lobster, Verizon Wireless, Aspen Dental, Hertz and a Pennsylvania Wine and Spirits store.  Fameco also served as the leasing agent for the center.  

     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 over 150 shopping centers and retail properties totaling 17 million square feet, manages more than 11 million square feet of retail space and exclusively represents more than 75 retailers expanding in the tri-state area.   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.

January 16 , 2009