Philadelphia Middle-Market Digest for October 11, 2016

Here is a roundup of middle-market transactions and other activities around Pennsylvania in recent weeks.

Sales

WHITEHALL, PA—PH Retail, an affiliate of leading-edge real estate company Post Brothers, sold 2610 MacArthur Road, a 4,815-square-foot retail property in Whitehall, PA. The freestanding building, situated on an outparcel of MacArthur Towne Center — home to national retailers Walmart, Sam's Club, Dick's Sporting Goods and Lowe's – is now occupied by Chick-Fil-A in a triple-net lease. PH Retail originally acquired the property in February 2015 after it had fallen into disrepair following the departure of a prior restaurant. Recognizing the site's prime location nearby major thoroughfares and retail centers, the company quickly secured Chick-Fil-A as its new tenant following the acquisition. PH Retail led the subsequent demolition of the existing structure, in addition to securing approvals for the development of the new freestanding Chick-Fil-A structure.

HARRISBURG, PA—Wild Tomato Group purchased the restaurant The Wild Tomato Pizzeria from SD Food Management.  The 1,500 square-foot business is located at 4315 Jonestown Road in Harrisburg.  Niko K. Kranias of NAI CIR handled the transaction.

Leases

HARRISBURG, PA—Calderon Textile has relocated and leased a 57,600 square-foot distribution warehouse located at 7253 Grayson Road in Harrisburg from Liberty Property.  Pat Lafferty of CBRE represented the lessor and Ida McMurray, CCIM, SIOR of NAI CIR represented the lessee.

Executive Moves

PHILADELPHIA, PA—Hill International named Craig L. Martin chairman of the company's board of directors. Martin, who joined Hill's board in 2016, has nearly 45 years of experience in the international engineering and construction industry.  In 2014, he retired as the president and chief executive officer of Jacobs Engineering Group, one of the world's largest and most diverse providers of technical, professional and construction services.

Here is a roundup of middle-market transactions and other activities around Pennsylvania in recent weeks.

Sales

WHITEHALL, PA—PH Retail, an affiliate of leading-edge real estate company Post Brothers, sold 2610 MacArthur Road, a 4,815-square-foot retail property in Whitehall, PA. The freestanding building, situated on an outparcel of MacArthur Towne Center — home to national retailers Walmart, Sam's Club, Dick's Sporting Goods and Lowe's – is now occupied by Chick-Fil-A in a triple-net lease. PH Retail originally acquired the property in February 2015 after it had fallen into disrepair following the departure of a prior restaurant. Recognizing the site's prime location nearby major thoroughfares and retail centers, the company quickly secured Chick-Fil-A as its new tenant following the acquisition. PH Retail led the subsequent demolition of the existing structure, in addition to securing approvals for the development of the new freestanding Chick-Fil-A structure.

HARRISBURG, PA—Wild Tomato Group purchased the restaurant The Wild Tomato Pizzeria from SD Food Management.  The 1,500 square-foot business is located at 4315 Jonestown Road in Harrisburg.  Niko K. Kranias of NAI CIR handled the transaction.

Leases

HARRISBURG, PA—Calderon Textile has relocated and leased a 57,600 square-foot distribution warehouse located at 7253 Grayson Road in Harrisburg from Liberty Property.  Pat Lafferty of CBRE represented the lessor and Ida McMurray, CCIM, SIOR of NAI CIR represented the lessee.

Executive Moves

PHILADELPHIA, PA—Hill International named Craig L. Martin chairman of the company's board of directors. Martin, who joined Hill's board in 2016, has nearly 45 years of experience in the international engineering and construction industry.  In 2014, he retired as the president and chief executive officer of Jacobs Engineering Group, one of the world's largest and most diverse providers of technical, professional and construction services.