The SuperValu lease was for 15 years with options to extend for 20 more. Terms of the Acme sublease are undisclosed. Speaking on condition of anonymity, a broker specializing in the retail market tells GlobeSt.com that the rental rate for Acme is in a range of between $10 per sf and $12 per sf.
"The Acme unit will be one of the chain's large-format operations that features a larger selection of products in virtually all categories," says Jon Kushner, senior partner of Conshohocken, PA-based Fameco Real Estate. Trupert Ortleib, also a Fameco senior partner, represented SuperValu in obtaining the tenant and negotiating the sublease.
Gilberton, PA-based Gilberton Development owns the 95,000-sf center, which was redeveloped in 1996. The Acme lease returns the center to nearly 100% occupancy.
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