Pennsylvania shopping plaza sells above asking price
Asset acquired via tax-deferred exchange
By Inman News, Thursday, June 21, 2007.A family-owned shopping center in South Whitehall, Pa., has sold for $14.3 million -- which is $300,000 over list price.
SMM Realty LLC acquired the 106,843-square-foot Dorneyville Shopping Center in a 1031 exchange from an unidentified seller. The site is located at the intersection of Hamilton Boulevard and Haines Mill Road.
At the time of sale, the shopping center was 93 percent occupied with a unique mix of neighborhood tenants, including Alexia's Nail Salon, Home Care Supply, Bounce U, Body Elite, Leaning Edge Karate Inc., Citi Financial Inc., Jungle Fun LLC, Dorneyville Beverage, Subway, Gallery Billards, Foo Joy Chinese, Nerv Center LLC, Carpet Outlet, Tappen Japanese, Chicken Lounge, The Angel Shop and Super Cuts.
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