EBENSBURG, PA—Marcus & Millichap brokered the sale of College Plaza, a 129,945-square foot strip center anchored by Giant Eagle in Ebensburg, PA, about 25 miles west of Altoona.
"This deal shows the high-demand for grocery anchored strip centers in the market right now, even those in smaller market locations," says Dean Zang, senior vice president, Marcus & Millichap, who worked on the transaction.
Zang, along with Brian Munn, vice president, Joshua Ein, investment specialist, and Mark Taylor, senior vice president, and had the exclusive listing to market the property on behalf of the seller, a tenant in common group. Tim Giambrone, vice president in Marcus & Millichap's Atlanta office, secured and represented the buyer, a privately owned real estate investment company out of northern New Jersey.
College Plaza is located at 881 Hills Plaza in Ebensburg, PA, on more than 22 acres of land. The strip center is anchored by grocer Giant Eagle, which has occupied the space for more 35 years, and also includes national tenants such as Big Lots, Aarons, Dollar General, Sherwin Williams, and GNC. Pennsylvania Highlands Community Center is also within the center.
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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].
