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CARLISLE, PA-Kimco Realty Corp. pays $30.5 million, or $184.41 per sf, for a two-property shopping center portfolio aggregating 165,389 sf. The properties are the 90,183-sf Carlisle Marketplace here and 75,206-sf Horsham Point in Horsham.

A Giant Food Stores' flagship unit anchors the Carlisle property, which is located about 15 miles southwest of Harrisburg. Other tenants are Dollar General and Regis Hair Salon. The property was built in 1996 and is 100% leased.

Giant Food Stores and CVS Pharmacy co-anchor Horsham Point, which is 10 miles north of Philadelphia. Other tenants are Blockbuster Video, Quizno's and Sovereign Bank. This property, built in 1997, is also 100% leased.

Andrew Oliver, managing director at New York City-based Sonnenblick-Goldman, represented the seller, which he identified as a German investor, and also secured the buyer. "We had 25 bids for the portfolio," he tells GlobeSt.com. "There was no asking price, but the price was above the seller's expectation." He adds that "tenants have performed very well in these locations and, therefore, the centers command premium rents. These are very stabile assets."

Oliver worked with Edward Senenman, director of acquisitions for New Hyde Park, NY-based Kimco. Calls to Senenman were not returned by deadline. These two centers join 41 owned by Kimco in Pennsylvania alone, including Village Mall in Horsham and Stonehedge Square in Carlisle.

Instant Insights /

Kimco's $31M Bid Takes Two Shopping Centers

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