LANCASTER, PA—PREIT has sold the site of theMattress Warehouse property at 1831Hempstead Road in Lancaster, PA to a private investor,David Roeberg for an undisclosed amount.

Mattress Warehouse remains as the tenant, with10 years remaining on its current lease. CBRE's KevinMcClernon and George Schmitt representedPREIT in the transaction. MattressWarehouse is located in a 6,000 square foot building as anoutlot in a 1.84 acre shopping center.

“A property like this, with a strong-credit, corporate-ownedretailer like Mattress Warehouse with a long-termlease in effect, was bound to attract significant interest,” saysMcClernon, senior vice president withCBRE's Investment Properties division. “This siteis adjacent to other strong national retailers, includingCostco, Lowe's, and Best Buy.Combined with its easy access and high visibility to the US-30Bypass, the fundamentals for both the property and the region arestrong.”

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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].