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IPA Brokers Central PA Sale for Cedar Realty Trust
Institutional Property Advisors (IPA), a division of Marcus & Millichap, closed the sale of Camp Hill Shopping Center, a 430,198-square-foot shopping center in Camp Hill, PA, near Harrisburg. The sales price is approximately $90 million.
“Camp Hill Shopping Center is one of the many outstanding grocery-anchored shopping centers within the Cedar Realty Trust portfolio,” said Brad Nathanson, IPA senior managing director. “Currently 96% occupied, the property is anchored by one of the top-performing Giant Food Markets in the entire chain.”
Nathanson represented the seller, Cedar Realty Trust, and identified the buyer, GSD CampHill Pradsavi Group LLC. Marcus & Millichap Capital Corporation arranged the debt on behalf of the buyer.
“There is tremendous demand for dominant grocery-anchored shopping centers nationally, given the rebound in the markets post-COVID and the attractive debt markets,” Nathanson added. “In fact, demand is outpacing the supply of first-class, high-performing assets like Camp Hill Shopping Center.”
- ◦Sale/Acquisition
