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Top commercial, residential real estate deals of the week

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Saturday, Feb. 16, 2013, 9:00 p.m.
 

DEALSOF THE WEEK

A quick look at recent retail, commercial and industrial projects, sales and leases of note in Western Pennsylvania

$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

Recent home and condominium sales that brought top prices in Western Pennsylvania:

$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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