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Top commercial, residential real estate deals of the week
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By Sam Spatter
Published: Saturday, February 16, 2013, 9:00 p.m.
Updated: Wednesday, February 20, 2013
DEALSOF THE WEEK
$7.175 million
Property sold: 280 New Castle Rd., Butler
Seller: Oakland Real Properties Inc., Cleveland
Buyer: Crosstown Butler 280 LLC, New York
Details: The buyer acquired the land, where a Walgreen's store is located, from Oakland and the tenant lease from RBB Properties LLC, Lynn Haven, Fla.
Comment: “This was a combination deal with the buyer acquiring both the land and tenant leases,” said Charles Ripepi, CFO, Garland Co., Cleveland, which handled the sale.
$2.29 million
Property sold: 1654 W. State St., Economy, Beaver County
Seller: Estate of Dr. Edwin Boal, Florida
Buyer: Wal-Mart Corp., Bentonville, Ark.
Details: The buyer acquired a 229.5-acre site behind the Northern Lights Shopping Center in Economy and plans to build a 155,000-square-foot Super Wal-Mart.
Comment: “Construction has started on a $40 million Wal-Mart which is expected to opened before the end of the year. The company will hire about 440 and build a $3 million road to service the store,” said Ecomony Mayor David Poling
$920,000
Property sold: 942 Penn Ave., Downtown
Seller: Robert and Norma Jean Trombino, Pittsburgh
Buyer: Nicholas Penn Avenue LLC, Pittsburgh
Details: Sale of the two-story former Trombino Piano Galleries building.
Comment: “Plan is to construct a third-level roof deck for a new restaurant, with a tenant leasing the property,” said Nick Nicholas, Pittsburgh investor, who will be the landlord.
TOP DOLLAR HOMES
$755,000
Property: Peters
Seller: Alen and Leslie Hamilton
Buyer: Michael and Cassandra Segura
Details: Brick Provincial with pillared driveway, two-story entry, butler pantry, glass doors, cathedral skylight, sunken sun room with two-sided stone fireplace, and playroom off third bedroom.
Comment: “Buyer needed the five/six bedroom option, and liked raised ceilings and upscale finishes, the cathedral morning room with two-sided fireplace and sitting room with fireplace in master suite, and the covered rear deck,” said Karen Marshall, Keller Williams Realty.
$750,000
Property: Squirrel Hill
Seller: Mayer and Joyce Arnowitz
Buyer: Kevin and Rachel Mollen
Details: Tudor-style with marble entry and staircase leading to six bedrooms and four baths. Master bedroom has vaulted barreled ceilings, living and dining rooms, omni stone driveway and patio, electric gates to garage.
Comment: “The buyers liked the wonderful family room and the location of the home,” said Tamara Skirboll, Coldwell Banker Real Estate.
$526,000
Property: Cecil
Seller: Michael and Laura Kennedy
Buyer: George and Jayne Lemon
Details: Two-story Provincial with two-story foyer, great room with bridge, open to sundrenched hearthroom, has backlit tray ceiling, covered rear deck, three-car garage.
Comment: “Buyers liked the custom-built house offering first-floor living, beautiful kitchen boasting granite tops and stainless appliances, open to a morning room with custom built-ins and a gas fireplace,” said Jim Dolanch, Century 21 Frontier Realty.
Sam Spatter is a staff writer for Trib Total Media. He can be reached at 412-320-7843 or sspatter@tribweb.com.
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