ALTOONA, PA-If there are any doubts that the retail realestate sector has heated up, then the recent sale of a power centerhere near the dead center of Pennsylvania should quench thosereserves. Logan Town Centre, a 715,819-square-footasset, recently traded for $101.5 million, at a 6.8% capitalizationrate, figures that are usually reserved for class A centers aroundmajor metro areas.

“While it's located in Altoona, itdraws easily from a 20-mile radius,” Jim Koury, asenior managing director at HFF, who brokered thedeal for Yonkers-based seller AVR Realty, tellsGlobeSt.com. “To me Altoona is a misnomer. It speaks more loudly tothe stability of the area.”

Logan Town Centre, which was builtin 2007, counts Giant Eagle Supermarket,Bed Bath & Beyond, Dick's SportingGoods and Kohl's among its junior-anchormix. The buyer, who Koury could only describe as a “private,high-net-worth individual” who is not part of a 1031 investmentgroup, obviously sees potential returns of the center, which has aloan maturing in 2017 but is 98.4% leased.