{"id":1004129931,"date":"2015-10-22T07:22:58","date_gmt":"2015-10-22T15:22:58","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004129931"},"modified":"2021-05-14T20:02:03","modified_gmt":"2021-05-15T04:02:03","slug":"hff-arranges-sale-of-suburban-philly-retail-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/hff-arranges-sale-of-suburban-philly-retail-asset\/","title":{"rendered":"HFF Arranges Sale of Suburban Philly Retail Asset"},"content":{"rendered":"<p><em>By Adriana Pop, Associate Editor <\/em><\/p>\n<p><a href=\"https:\/\/www.hfflp.com\/\" rel=\"nofollow noopener\" target=\"_blank\">HFF<\/a> closed the $11.4 million sale of Paoli Center, a two-building retail asset located in the Philadelphia suburb of Paoli. The property offers a total of 15,400 square feet and is 100 percent occupied by Walgreens and PNC Bank.<\/p>\n<div id=\"attachment_1004129933\" style=\"width: 224px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/10\/HFF-Managing-Director-Chris-Munley.png\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" aria-describedby=\"caption-attachment-1004129933\" data-attachment-id=\"1004129933\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/hff-arranges-sale-of-suburban-philly-retail-asset\/hff-managing-director-chris-munley\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/10\/HFF-Managing-Director-Chris-Munley.png\" data-orig-size=\"300,420\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"HFF Managing Director Chris Munley\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;HFF Managing Director Chris Munley&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/10\/HFF-Managing-Director-Chris-Munley.png?w=300\" loading=\"lazy\" class=\"wp-image-1004129933 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/10\/HFF-Managing-Director-Chris-Munley.png\" alt=\"HFF Managing Director Chris Munley\" width=\"214\" height=\"300\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/10\/HFF-Managing-Director-Chris-Munley.png 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/10\/HFF-Managing-Director-Chris-Munley.png?resize=214,300 214w\" sizes=\"auto, (max-width: 214px) 100vw, 214px\" \/><\/a><p id=\"caption-attachment-1004129933\" class=\"wp-caption-text\">HFF Managing Director Chris Munley<\/p><\/div>\n<p>Private investor Theodore Griffinger purchased the center free and clear of existing debt. HFF worked on behalf of the seller, Pineville Properties.<\/p>\n<p>Paoli Center is situated on 1.73 acres at 152 East Lancaster Ave. at the intersection of Routes 252 and 30. This corridor known as the \u201cMain Line\u201d or Lancaster Avenue connects the suburban market to the city of Philadelphia. The area is home to several corporate headquarters and is located near some of the most affluent residential properties in the metropolitan Philadelphia area. Completed in 2002, Paoli Center has more than four access points, frontage along Lancaster Avenue, as well as parking for its tenants.<\/p>\n<p>Chris Munley, managing director, led the HFF investment sales team representing the seller, while John Andreini of <a href=\"https:\/\/www.capitalpacific.com\/\" rel=\"nofollow noopener\" target=\"_blank\">Capital Pacific<\/a> represented the buyer.<\/p>\n<p>\u201cPaoli Center is irreplaceable real estate on the very affluent \u2018Main Line\u2019 with two premium tenants, and it is a great long-term investment and opportunity,\u201d Munley said. \u201cThe property garnered significant national interest and reflects the continued appetite for retail properties in core markets within the Philadelphia MSA.\u201d<\/p>\n<p>Pineville Properties owns and operates commercial real estate assets throughout Pennsylvania. Headquartered in Valley Forge, Pa., the company has extensive experience in the development, leasing, and operation of retail properties. Its current portfolio totals more than 1.4 million square feet.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Private investor Theodore Griffinger is the new owner of a retail property situated in suburban Philadelphia. <\/p>\n","protected":false},"author":260,"featured_media":1004129933,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21742,1494,21749],"tags":[],"class_list":["post-1004129931","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-latest","category-philadelphia","category-retail"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>HFF Arranges Sale of Suburban Philly Retail Asset - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/hff-arranges-sale-of-suburban-philly-retail-asset\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"HFF Arranges Sale of Suburban Philly Retail Asset\" \/>\n<meta property=\"og:description\" content=\"Private investor Theodore Griffinger is the new owner of a retail property situated in suburban Philadelphia.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/hff-arranges-sale-of-suburban-philly-retail-asset\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2015-10-22T15:22:58+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-05-15T04:02:03+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/10\/HFF-Managing-Director-Chris-Munley.png\" \/>\n\t<meta property=\"og:image:width\" content=\"300\" \/>\n\t<meta property=\"og:image:height\" content=\"420\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Adriana Pop\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/hff-arranges-sale-of-suburban-philly-retail-asset\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/hff-arranges-sale-of-suburban-philly-retail-asset\/\",\"name\":\"HFF Arranges Sale of Suburban Philly Retail Asset - 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She joined CPE and MHN in 2012, with an academic background in economics, English and Italian. She currently curates the CPE Sneak Peek newsletter, highlighting noteworthy stories and emerging topics for readers. 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