JLL Arranged the Sale of Gettysburg Marketplace
Gettysburg Marketplace is the dominant retail shopping center in the area and is currently 90-percent occupied.
GETTYSBURG, PA—The Gettysburg Marketplace, an 85,488 square-foot shopping center in Gettysburg, Adams County, PA, was sold in a transaction brokered by Jones Lang LaSalle. Glen Una Management purchased the asset. The Marketplace was most recently owned by New York-based Blackstone Group, according to Real Capital Analytics, a proprietary research database that tracks commercial real estate transactions. Financial details were not disclosed.
JLL managing director Jim Galbally and senior vice president Colin Behr led the team handling the sale, along with managing director Bill Moylan and vice president Nate Cleland.
“We had a tremendous amount of investor interest due to Giant’s excellent sales history at Gettysburg Marketplace,” says Galbally. “Both seller and buyer were great to work with which ultimately made for a great process on both sides.”
The shopping plaza, located at 44 Natural Springs Road, is anchored by Giant Food Stores. Other national and regional tenants include Pet Valu, Papa Johns, Sally Beauty, AT&T Wireless and Arby’s. Gettysburg Marketplace is the dominant retail shopping center in the area and is currently 90-percent occupied.
“The dynamics of the Gettysburg market, tourism, college town, etc., combined with Giant’s dominant performance and commitment to the shopping center, made this an attractive asset,” says Behr. “The rest of the tenant lineup speaks for itself with all national, established tenants which further drove the process of getting Gettysburg Marketplace sold.”