Lycoming Mall, Pennsdale, PA Lycoming Mall, Pennsdale, PA

PENNSDALE, PA—Los Angeles-based Matthews Retail Advisors is helping PREIT execute its fire sale of 13 poorly performing properties as part of a strategic exit from non-core properties.

As previously reported by GlobeSt.com, PREIT sold its Lycoming Mall in Pennsdale, PA for $26.4 million. Matthews’ El Warner, national director, and Patrick Toomey, senior director, who oversee the company’s Shopping Centers Division, facilitated the transaction for PREIT. The buyer, Kohen Asset Management, is a privately held, New York based investment company that specializes in the acquisition and management of B and C malls across the United States. The transaction closed as originally negotiated within 30 days.

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Steve Lubetkin

Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].

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