(For more retail coverage, click GlobeSt.com/RETAIL.)
CAMP HILL, PA-Joe Frio, a Springfield-based private investor,adds the 119,341-sf Harrisburg West Shopping Center to hisportfolio, taking his total holdings to three area retail assets.The seller is New Hyde Park, NY-based Kimco Realty Corp.
The price is undisclosed. Over the past year, CentralPennsylvania retail assets have traded across a broad pricespectrum in a range of from $70 per sf to $200 per sf, with theaverage at the $150-per-sf level. This property is approximately 30years old and nearly 80% leased. On condition of anonymity, abroker familiar with the Harrisburg market tells GlobeSt.com theprice was probably in the area of between $90 and $120 per sf,which would put the tag at from $10 million to $14 million.
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