CPBJ reports:  A Sheetz will open Thursday in Ephrata Township, the first of three businesses that will hire a total of about 95 people, company spokespeople said.
The gas and convenience store at routes 322 and 222 has 550 square feet of space, with seating for about 20 people, said Monica Jones, a spokeswoman for Altoona-based Sheetz Inc.

The building’s cost was between $2 million and $3 million, she said. Most of the construction and design was completed by internal teams, but Leacock Township-based contractor Scenic Ridge Construction was involved with the project, she said.

Between 35 and 40 people are hired for that size store, which will open at 9 a.m. on Thursday, Jones said.

In the spring, Lancaster General Health will open an Urgent Care center in a 5,000-square-foot space at the same plaza, spokesman John Lines said.

Sheetz opening in Ephrata; two other businesses coming soon – Central Penn Business Journal.

The 133,500-square-foot department store, which occupies one of the last retail spaces available in the development, will have a grand opening Sunday, according to retail developer R.J. Waters & Assoc. Inc. in Chester County.

The Minneapolis-based company became interested in the site in 2004 after researching demographics from its East Lampeter Township location on Route 30/Lincoln Highway, said Kevin A. Lahn, vice president for the development company.

Rezoning, conditional-use approval and land development approval were required for Target to build on the site, Lahn said. Target purchased transferrable development rights to preserve farmland in another part of the county as part of the project, he said.

Target opens second location in Lancaster County

Lancaster County-based LMS represented Derry Township-based The Outlets at Hershey in negotiating the transaction, according to a news release.

Terms of the deal were not disclosed by LMS. Tanger also has a factory outlet center in Lancaster County.

Ownership group FSH Associates LP acquired The Outlets at Hershey in 1998, and LMS came on board at the time as its leasing and management firm, said Blaze Cambruzzi, chief operating officer for LMS.

The ownership entity remains intact and still formally owns the outlet center, with Tanger now holding the controlling ownership interest, Cambruzzi said.

Midtown Harrisburg projects closer to reality – Central Penn Business Journal.

The deal totals 151,150 square feet at 1895 New Holland Rd. and the outparcels – a Dairy Queen, Blue Ball Bank and Sears. The center is located at the corners of Kenhorst Plaza, New Holland and Philadelphia Avenues, and was 89 percent occupied at the time of sale.

via Kenhorst Plaza Sells for $16.2M – CoStar Group.

CPBJ reports:

PREIT owns a 50 percent interest in Red Rose Commons and The Court at Oxford Valley in Langhorne. PREIT and its partner refinanced the mortgages on both properties with 10-year nonrecourse loans with an average fixed interest rate of 5.42 percent, PREIT said in a statement Monday.

The loans totaled $90 million. PREIT and its partners used a portion to pay off previous mortgages totaling $56 million, with an average interest rate of 7.16 percent.

PREIT also modified the credit facility it obtained in 2010, extending it by one year and reducing the interest rate by 0.9 percent. PREIT increased the revolving portion of the facility by $100 million to $250 million and reduced the term loan portion by $100 million to $240 million.

Red Rose Commons is the third largest shopping center in Lancaster County. Shares of Philadelphia-based PREIT trade on the New York Stock Exchange under the ticker symbol PEI.

from Central Penn Business Journal.