Pa. mall deal tops $100M

Developer parts with massive asset

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A large shopping center in Altoona, Pa., has sold for $104 million, real estate brokerage Jones Lang LaSalle recently announced. AVR purchased the 852,542-square-foot Logan Town Center from the property's developer, MM Altoona Associates LP, and Jones Lang LaSalle represented both parties in the transaction. Logan Town Centre is located at Exit 33 of Interstate 99 within the trade area defined by the "Tri-City" Region of Altoona, State College and Johnstown, Pa. At the time of sale, the asset was 95 percent occupied by tenants that included Giant Eagle Supermarket, Kohl's, Staples, Best Buy, Petco, Dicks Sporting Goods, Barnes and Noble, Bed Bath and Beyond, Ross, Boscovs and Home Depot. ...