Colliers Team Concludes Sale of 980 Bethlehem Pike

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Attractive Neighborhood Retail Property Fetches $4.01M in Post-Corona Close

May 12, 2020 [Montgomeryville, PA]  –  Colliers is pleased to announce that the team of Carl Neilson, Todd Sussman and Jon Kieserman has recently completed the investment sale of 980 Bethlehem Pike, a 41,179 sf dual-suite retail investment property in Montgomeryville, PA. The team represented the seller, JPMCC 2007-CIBC19 Bethlehem Pike, LLC and secured the buyer, 978 Bethlehem Pike, LLC. The transaction was consummated for $4,012,111. 

980 Bethlehem Pike is a high-quality construction suburban retail space in front of the popular Route 202 power center Montgomery Square, which is home to Target, Giant supermarket and Bed Bath and Beyond. Due to the liquidation of tenant A.C. Moore, the property was 100% vacant at the time of sale, which transpired after the coronavirus lockdown in the State of Pennsylvania

Jon Kieserman, Senior Vice President for the Colliers Retail team, added “This is a rare gem in a dense retail area, and is an established location with high visibility. While retail has been hard hit, the completion of this sale shows the investment market for high quality retail facilities still has a pulse.” “The property offered a solid location with substantial upside potential for an astute investor.” provided Carl Neilson, Senior Vice President in Colliers’ Capital Markets Group.


For further information, contact:

Carl Neilson, Senior Vice President 
+1 610 684 1856 | Carl.Neilson@colliers.com

Todd Sussman, Senior Managing Director
+1 215 850 3304 | Todd.Sussman@colliers.com 

Jon Kieserman,  Senior Vice President
+1 610 557 0184 | Jon.Kieserman@colliers.com  

 

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About Colliers International

Colliers International (NASDAQ, TSX: CIGI) is a leading real estate professional services and investment management company. With operations in 68 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to maximize the value of property for real estate occupiers, owners and investors. For more than 25 years, our experienced leadership, owning approximately 40% of our equity, has delivered compound annual investment returns of almost 20% for shareholders. In 2019, corporate revenues were more than $3.0 billion ($3.5 billion including affiliates), with $33 billion of assets under management in our investment management segment. Learn more about how we accelerate success at corporate.colliers.com, Twitter @Colliers or LinkedIn

 

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Carl Neilson

Senior Vice President | Conshohocken

Conshohocken

Carl joined Colliers International’s Philadelphia region in 2012. His real estate market focus is on the sale of investment properties in the Philadelphia region which includes Eastern Pennsylvania, Southern New Jersey and Delaware. As a 25-year veteran of the commercial real estate industry, Carl’s expertise has been with investment sales in representing owners in the marketing of their income properties, acquisition services for private and institutional income property investors, developers and users, as well as various consulting assignments for clients.

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Todd Sussman

Senior Managing Director | Philadelphia

Philadelphia

Todd joined Colliers in 2006 and specializes in the sale and leasing of retail properties in the Tri-state area. Todd frequently consults and works closely with developers to identify and acquire key properties throughout the region. Retail and mixed use development, site selection, negotiation, acquisitions, strategic planning, disposition of properties for national retailers are a few of the skills Todd has performed over the years.  Todd also collaborates and develops retail development strategies for retailers throughout the Tri-state area. 

Todd has over 20 years of experience in all aspects of commercial real estate including but not limited to: 

• Asset Management of Apartments, Hotels and Retail Properties

• Brokerage - Leasing and Sales, Management/Training

• Investment properties 

• Development and repurposing of properties

During his tenure at Colliers, Todd has provided creative, strategic solutions to area landlords and shopping centers and brought his expertise to tenants looking to expand, relocate, contract or optimize locations across the region. His understanding of the development process from conceptualization to completion benefits the retail clients and developers he represents.

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Jon Kieserman

Sr. Vice President

Conshohocken

Jon Kieserman joins Colliers as a retail leader with over 26 years in the retail business and 20 specializing in retail tenant and landlord representation. Retail is in his blood. Prior to his career in real estate Jon was a tenant himself, leading a family-owned 16 store regional retail operation. 

There is nothing Jon enjoys more than rolling up the sleeves and coming together as part of a team with a client to share creative off-market or out-of-the box solutions that succeed in today’s rapidly evolving retail landscape. 

Jon has provided retailer representation and/or disposition services for the likes of Walmart, Sam’s Club, Lowe’s, AutoZone, Wendy’s, Joyce Leslie, Pizza Hut, Taco Bell, Kentucky Fried Chicken, Pep Boys, Circuit City, Jiffy Lube and others. With over 3.5 MSF leased or sold throughout his career and a roster of national tenants, Jon provides exceptional market knowledge and insight into retail in the Tri State region and beyond.

His personal approach is what clients remember long after the transaction - a true partner that is accessible, proactive and results driven.

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