11/1/2007

CB Richard Ellis negotiates sale of Pennsylvania retail center

by

Quality Center

Waterford Realty, an affiliate of Meridian Capital Group, has purchased the Quality Center Shopping Center in Lancaster, Pa., for an undisclosed amount from AMC Delancey Group, Inc.

The property had an asking price of $10.5 million.

Richard A. Frolik of CB Richard Ellis represented AMC in the transaction.

The 60,712 square foot shopping center contains 14 stores and is located along the Lincoln Highway. It's currently 88 percent leased by tenants including Adidas, Tuesday Morning, Lemon Grass Thai and Oriental Rug.

Frolik is an executive vice president with CB Richard Ellis' Investment Properties Group in Oak Brook, Ill. He has been with the company since he was hired as a financial analyst in 1992 and was the Eastern Division's Rookie of the Year in 1997.

Address: 2495 Lincoln Highway, Lancaster, Pa.

Size: 60,712 square feet

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Filed Under: Retail

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