GVS Partners acquires Shoppes at Silver Spring, plans new retail development on Carlisle Pike
A real estate partnership from the Mechanicsburg area has acquired two properties on the Carlisle Pike in Silver Spring Township and is planning to develop a vacant parcel with new retail locations this year.
GVS Partners, formed earlier this year, has acquired the 33,545-square-foot Shoppes at Silver Spring from the former owner Chambersburg-based RJH Investments, said Brad Rohrbaugh, a partner with York-based Bennett Williams Realty Inc., the agent on the deal.
The small shopping center at 6499 Carlisle Pike currently houses Party City and Bombay Junction with one 2,000-square-foot vacant space, he said.
The deal included the vacant 3.25-acre parcel to the east of the Shoppes that could support a 25,000-square-foot strip mall and a stand-alone fast food restaurant or bank, said Sam Ellanki, GVS’s general partner and a partner with Cumberland County-based IT consulting firm Lean ERP Solutions.
GVS could submit a development proposal for the vacant lot to Silver Spring Township in the next month or two, Ellanki said.
The deal reflects the growth prospects along the Carlisle Pike that have sprung up since the development of the nearby Target and Wegmans shopping center, Rohrbaugh said.
“It has a large regional draw and it brings a lot of traffic,” he said.
Shoppes at Silver Spring location