shopping center Archives - Central Penn Business Journal

North Cornwall Commons expanding in Lebanon County

North Cornwall Commons is undergoing further expansion in Lebanon County.

Byler Holdings LLC announced on Nov. 30, that the mixed-use community would break ground on Dec. 6 on a 27,000 square foot corporate office building.

The building will comprise three floors, with half of the offices serving as Byler Holdings’ corporate headquarters. The other half of the building will have offices available for leasing.

Byler Holdings also announced its breaking ground on its third retail building in North Cornwall Commons. Expected to be completed in spring 2023, the new retail building will include tenants and a drive-thru with Lancaster-based Oola Bowls.

The first retail building is occupied by Ancestor Coffehouse, Premier Nails, Vilana Studio, Caliper Home Loans, and Isaac’s Craft Kitchen & Brewery. The second retail building will host Coldwell Banker, State Farm Insurance and more.

North Cornwall Commons includes two five-story apartment buildings housing 205 units; two retail buildings hosting 12 businesses; 160-unit townhome community; Fairfield Inn & Suites by Marriott; Micks All American Pub.

On its site, Byler Holdings LLC describes North Cornwall Commons as integrating a “community shopping center with a luxury rental townhome community, a master-planned business campus with dining and lodging establishments.” The project will include approximately 200,000 square feet of office space and a hotel, while the shopping center will feature a pedestrian-friendly livable community atmosphere and will be anchored by national retailers.

A family-owned business with operations in Pennsylvania, Delaware, and Maryland, Byler Holdings LLC is headquartered in south central Pennsylvania.

Lancaster’s Shops at Rockvale eyed for dramatic rebuild

The Shops at Rockvale in Lancaster County look to be in for sweeping changes.

Fernmoor Homes, a family-owned developer in Jackson Township, New Jersey, plans a rebuild that will bring 416 new apartments in to the outlet property in East Lampeter Township.

According to the Fernmoor Homes site, the apartments will be part of 13 four-story buildings. The company will tear down 267,000 square feet of commercial space in the middle of the 65-acre outlet. The square footage earmarked for demolition accounts for approximately one-third of the retail shopping center.

The apartments will include outdoor resources and conveniences, including a park, pool, and clubhouse. The estimated cost of the project is reported at $100 million or more.

Fernmoor Homes has been closing on the purchase of the Shops at Rockvale since August and is expected to submit its proposal to the East Lampeter Township Board of Supervisors in January.

Prior to their being acquired in 2017 by the Wharton Realty Group, the Shops at Rockvale were known as Rockvale Outlets.

A family-owned company, Fernmoor Homes is headed by President Jeffrey Fernbach. The company site describes Fernmoor Homes as providing “innovative living choices across New Jersey and Delaware, from single-family homes, townhomes and condominiums to active adult-adult communities and luxury rentals.”

Haines Acres Shopping Center under new ownership

Haines Acres Shopping Center on Haines Road in York is under new ownership. PHOTO/PROVIDED

Haines Acres Shopping Center, York, has been sold and will undergo renovations.

J.C. BAR Properties, Inc. Senior Commercial Advisor Broker Frank Messina recently sold the shopping center on Haines Road, just off I-83 to an undisclosed buyer.

The center is anchored by Ollie’s Bargain Market. Other tenants include Dollar Tree, Sherwin-Williams, J&J Nails Spa, Big Apple Bagel, Parma Pizza, Uller’s Outdoor and Steinmetz Coins & Currency.

“Large number of residents, strong traffic count, and proximity to I-83 makes this shopping center a key location in York County. I am excited to be part of this project as we start the marketing process this spring,” Messina said.

Development plans for the shopping center include facade renovations, signage upgrades and a possible pad site on the parking lot, he said.

Major road improvements have been completed, allowing additional traffic access to the shopping center, Messina said. Haines Acres Shopping Center has tremendous visibility and traffic counts with approximately 14,666 vehicles per day on Haines Road.

Messina will be handling the leasing for the shopping center and redevelopment.

Camp Hill Shopping Center sells for $90M to GSD CampHill Pradsavi Group

Camp Hill Shopping Center sold for approximately $90 million, Institutional Property Advisors, a division of Marcus & Millichap, announced Wednesday.

The 430,198-square-foot shopping center is at 3301 Trindle Road in Camp Hill. Brad Nathanson, senior managing director of Institutional Property Advisors, said in a release that it’s 96% occupied and anchored by a top-performing Giant supermarket, which leases almost 93,000 square feet.

Nathanson represented the seller, Cedar Realty Trust, headquartered in Port Washington, New York, and identified the buyer, GSD CampHill Pradsavi Group LLC, of Harrisburg. Marcus & Millichap Capital Corp. arranged the debt on behalf of the buyer.

According to its website, Cedar Realty Trust Inc. is a real estate investment trust that mostly specializes in the ownership and operation of grocery-anchored shopping centers along the densely populated Washington, D.C.,-to-Boston corridor. Excluding properties treated as held for sale, its portfolio consists of 53 properties, with approximately 7.6 million square feet of gross, leasable area.

Locally, those properties include Colonial Commons, Harrisburg; Fairview Commons, New Cumberland; Golden Triangle, Lancaster; Halifax Plaza; Meadows Marketplace, Hummelstown; Palmyra Shopping Center; The Point, Harrisburg; Northside Commons, Campbelltown; and Newport Plaza.

Cedar Realty Trust will be retaining property management of Camp Hill Shopping Center, which has 25 stores, according to MallsinAmerica.com. Among the other tenants there are Boscov’s, Staples, Five Below, Barnes & Noble Booksellers and LA Fitness.

“Anchor sales for Camp Hill are some of the best within their respective chains, which lead to the historical high retention of tenancy,” Nathanson said in the release. “Camp Hill Shopping Center is arguably the best-located and tenanted shopping center within all of Central Pennsylvania, led by market-share leading Giant … in their flagship store.”

Marcus & Millichap noted that the shopping center is at the “pinnacle hub” of Routes 15 and 11 on the western shore of Harrisburg, “within a node of affluency in a high-growth market where substantial industrial development over the past 10 years has made it one of the top corridors in the United States.”

Nathanson said the demand for dominant grocery-anchored shopping centers is skyrocketing nationally, “given the rebound in the markets post-COVID and the attractive debt markets.”

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North Cornwall Commons expanding in Lebanon County

Lancaster’s Shops at Rockvale eyed for dramatic rebuild