The first group of properties includes two shopping centers and the office building--the 30,000-sf Fairfield Executive Center here. Vita & Vita recently acquired the latter from Passaic Avenue Associates and has kicked off a repositioning of the asset, according to the firm's Tony Vita. The shopping centers include the 110,000-sf Hills Plaza South in College Twp., PA and the 72,000-sf Grandview Shopping Center in Erie, PA, which between them have a tenant roster that includes Weis Markets, Quality Markets, Eckerd Drug, JC Penney Catalog and Taco Bell.
Kish Bank of Belleville, PA provided the financing for the first group of properties. Further details of the transactions were not disclosed.
The second group of three shopping centers includes the 225,000-sf Hollywood Retail and Office Park in Fairfield, NJ, the 200,000-sf Hills Plaza in State College, PA and the 202,000-sf Broad Street Centre in Murfreesboro, TN. Major tenants of the three include K-mart, Big Lots, Dollar Tree, McDonald's, Hooters, Rite Aid, MSO Furniture, Cato, Payless Shoes, Firestone and Tuesday Morning. Funding sources were Trustcompany Bank of NJ, Omega Bank and Bank of Murfreesboro.
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