Lehigh Valley Retail Center Trades for $55M

HFF arranged the $55.25-million sale and $50.4-million in acquisition financing for MacArthur Commons, a 371,886-square-foot, fully-leased, grocery-anchored power center in Pennsylvania’s Lehigh Valley. An affiliate of Abrams Realty & Development purchased the asset, free and clear of existing debt.

The center is fully leased to GIANT Food Stores, as well as national anchors Burlington, Dick’s Sporting Goods, Big Lots and T.J.Maxx. Housed on 47 acres at 2631 MacArthur Rd., the property is situated in the region’s “go to” retail destination, and is accessible via Route 20.

HFF’s Chris Munley, Michael DiCosimo and Jose Cruz marketed the property on behalf of the undisclosed seller. HFF’s James Conley secured a floating-rate acquisition loan.

The buyer was able to obtain long-term lease extensions with the anchor tenants and gained approval to develop several outparcels, thus creating a highly competitive marketing process for the financing.

For comments, questions or concerns, please contact Dennis Kaiser

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

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Lehigh Valley Retail Center Trades for $55M

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National CRE News In Your Inbox.

Lehigh Valley Retail Center Trades for $55M

Inside The Story

About Dennis Kaiser