Fameco Sells Scott Town Plaza in Bloomsburg, PA

 
 
 
Plymouth Meeting, PA  — Fameco Real Estate, L.P., the region’s foremost full service retail real estate firm, is pleased to announce that it has sold Scott Town Plaza, a 76,634 square foot shopping center in Bloomsburg, PA.

Fameco Senior Director, Dan Shabel, who sold the center stated that ”in today’s difficult market, this deal marks one of the few centers that have sold in a tertiary market without assumable financing.  Despite the excellent credit of the center’s anchor tenants, transactions have been scarce in the last 12 months, especially in the outer markets.  The deal sold for a 9% cap rate on existing income with approximately 9,000 square feet of vacancy.  Located on Route 11 between Central Road and Park Street, this neighborhood center is anchored by Tractor Supply, ICT and Dollar Tree.  The seller was Scott Town Associates, LLC and the buyer was Bloomtown Associates, LP.

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 200 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.

September 25, 2009