Fameco Completes Leasing of Red Lion Plaza

 
 
 
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 brought Red Lion Plaza to 100% occupancy with the signing of leases for Planet Fitness Gym and Wit or Witout Cheesesteaks.
 
Despite the challenges of leasing retail space in today’s economy, Fameco successfully negotiated leases for a 29,500 square foot Planet Fitness franchisee and the second location for the “Best of Philadelphia 2009 Cheesesteak” restaurant, Wit or Witout, to achieve 100% occupancy. Red Lion Plaza, owned by Onyx Equities, LLC and Invesco, is a 217,874 square foot shopping center located at the prominent intersection of Red Lion Road and Roosevelt Boulevard in Philadelphia, PA.   Fameco salespersons Jim Creed and Jed Masloff who spearheaded the leasing assignment stated that the center boasts a strong tenant mix including some of the nation’s preeminent retailers such as Best Buy, Staples, Pep Boys and American Signature Furniture. According to Michael Nevins, Vice President of Asset Management for Onyx, “Jed and Jim have done an outstanding job in orchestrating significant lease transactions in a highly competitive submarket within an extremely challenging retail leasing environment.”
 
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 18, 2009