Amato Properties Acquires Pennsylvania Shopping Center
- Jul 19, 2017
Amato Properties purchased Scott Town Plaza, a 73,634-square-foot neighborhood shopping center in Bloomsburg, Pa., for $5.5 million. TZD Retail of Marcus & Millichap brokered the transaction on behalf of the seller, a private investor based in southeastern Pennsylvania, and represented the buyer.
Fully leased property
Located at 1383 Columbia Highway, the plaza is a mile away from the Bloomsburg University of Pennsylvania that serves roughly 10,000 students. At the time of sale, Scott Town Plaza was fully leased. Tenants include Sykes, Dollar Tree and Tractor Supply Co.
Scott Woodard, Derrick Dougherty, Mark Taylor and Dean Zang of TZD Retail of Marcus & Millichap had the exclusive listing to market the property.
“Despite retail griefs, investors continue to actively seek well-positioned, neighborhood shopping centers in secondary and tertiary markets,” Dougherty, first vice president of investment in Marcus & Millichap’s Philadelphia office, said in a prepared statement. “This particular tenant-mix has developed roots in the submarket with a consumer-aligned focus that prevents a threat from e-commerce.”
Image courtesy of Marcus & Millichap