{"id":1004692840,"date":"2023-12-05T08:39:35","date_gmt":"2023-12-05T16:39:35","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004692840"},"modified":"2023-12-05T08:42:35","modified_gmt":"2023-12-05T16:42:35","slug":"philly-area-shopping-center-trades-for-18m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/philly-area-shopping-center-trades-for-18m\/","title":{"rendered":"Philly-Area Shopping Center Trades for $18M"},"content":{"rendered":"
\"Dorneyville<\/a>

Joshi Hotel Group purchased Dorneyville Shopping Center in 2012. It is currently 86 percent leased and anchored by Aldi. Image courtesy of Institutional Property Advisors<\/em><\/p><\/div>\n

LS Property Investments<\/strong> has purchased Dorneyville Shopping Center, a 101-651-square-foot grocery-anchored shopping center in Allentown, Pa. Joshi Hotel Group<\/strong> sold the asset for $17.8 million. At the time of the sale, the one-story building was 86 percent leased.<\/p>\n

Institutional Property Advisors<\/strong> brokered the transaction, with Executive Director Brad Nathanson and Senior Director JP Colussi working on behalf of the seller and procuring the buyer. Tompkins Community Bank<\/strong> originated the $12 million acquisition loan, according to CommercialEdge data.<\/p>\n

Joshi Hotel Group purchased the 1961-completed building back in 2012 from Roi Management<\/strong> for $16 million, the same source shows.<\/p>\n

Anchored by Aldi, Dorneyville Shopping Center includes a diverse mix<\/a> of grocery, restaurant, medical, fitness and service-use tenants such as Pizza Hut, Marshall Arts, Total Eye Care, Mario\u2019s Pizza, Dedicated Nursing Associates, One Main Financial, an ImagiNation children\u2019s entertainment place and Body Elite Fitness Training.<\/p>\n

Located at 3227 Hamilton Blvd., the center is positioned within the fastest growing region in Pennsylvania. The property is in an affluent community with strong annual growth, serving approximately 224,877 residents within a 5-mile radius. Dorneyville Shopping Center is near the intersections of Interstate 78, Route 222 and Interstate 467, and within walking distance of Dorney Park & Wild Water Kingdom and Cedar Crest Hospital.<\/p>\n

Institutional Property Advisors recently represented KPR Centers in the sale of Gloucester Town Center, a 102,660-square-foot grocery-anchored<\/a> shopping center in Sicklerville, N.J.\u00a0The brokerage company worked on behalf of the seller and procured the buyer.<\/p>\n","protected":false},"excerpt":{"rendered":"

LS Property Investments purchased the 101-651-square-foot property.<\/p>\n","protected":false},"author":3014,"featured_media":1004692842,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,21742,10,1494,21749],"tags":[36195,35230],"class_list":["post-1004692840","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-latest","category-northeast","category-philadelphia","category-retail","tag-aldi","tag-institutional-property-advisors"],"acf":[],"yoast_head":"\nPhilly-Area Shopping Center Trades for $18M - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"LS Property Investments has purchased Dorneyville Shopping Center, a 101-651-square-foot grocery-anchored shopping center in Allentown, Pa.\" \/>\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\/philly-area-shopping-center-trades-for-18m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Philly-Area Shopping Center Trades for $18M\" \/>\n<meta property=\"og:description\" content=\"LS Property Investments has purchased Dorneyville Shopping Center, a 101-651-square-foot grocery-anchored shopping center in Allentown, Pa.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/philly-area-shopping-center-trades-for-18m\/\" \/>\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=\"2023-12-05T16:39:35+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-12-05T16:42:35+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/12\/Dorneyville-Shopping-Center-e1701777515748.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"3399\" \/>\n\t<meta property=\"og:image:height\" content=\"2551\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Diana Firtea\" \/>\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\/philly-area-shopping-center-trades-for-18m\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/philly-area-shopping-center-trades-for-18m\/\",\"name\":\"Philly-Area Shopping Center Trades for $18M - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/philly-area-shopping-center-trades-for-18m\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/philly-area-shopping-center-trades-for-18m\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/12\/Dorneyville-Shopping-Center-e1701777515748.jpg\",\"datePublished\":\"2023-12-05T16:39:35+00:00\",\"dateModified\":\"2023-12-05T16:42:35+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/a0c04b9de1387474e28c9ebdb0444e59\"},\"description\":\"LS Property Investments has purchased Dorneyville Shopping Center, a 101-651-square-foot grocery-anchored shopping center in Allentown, Pa.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/philly-area-shopping-center-trades-for-18m\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/philly-area-shopping-center-trades-for-18m\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/philly-area-shopping-center-trades-for-18m\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/12\/Dorneyville-Shopping-Center-e1701777515748.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/12\/Dorneyville-Shopping-Center-e1701777515748.jpg\",\"width\":3399,\"height\":2551,\"caption\":\"Dorneyville Shopping Center drew substantial national interest given its location in one of the fastest-growing submarkets. 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